Economics

U.S. Services Gauge Drops to Three-Year Low as Hiring Slows

Pullbacks in hiring, orders drag down ISM index to 52.6
Employment gauge declines to lowest since February 2014

U.S. ISM Services Index Plummets to Three-Year Low

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By Reade Pickert

October 3, 2019 at 2:00 PM UTC

Updated on

October 3, 2019 at 3:13 PM UTC

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America’s service industries joined manufacturing in taking a big step back last month, fueling concerns that the global slowdown and trade war are weighing more on the broader economy. Stocks, the dollar and Treasury yields all fell after the report.