Economics
Services in U.S. Grow at Slower Pace Than Forecast: Economy
This article is for subscribers only.
Service industries unexpectedly grew at a slower pace in December, a sign that some parts of the U.S. economy are improving in fits and starts.
The Institute for Supply Management’s non-manufacturing index fell to a six-month low of 53 from 53.9 in November, the Tempe, Arizona-based group reported today. The median projection in a Bloomberg survey of economists was 54.7. Readings above 50 indicate growth in the industries that make up almost 90 percent of the economy.