US Service Industry Expands at a Modest Pace as Activity Cools
- ISM gauge edged up to 51.9 last month after March stumble
- Business activity measure slid to lowest level since 2020
This article is for subscribers only.
The US service sector expanded only modestly in April, restrained by the weakest pace of business activity in nearly three years.
The Institute for Supply Management’s overall gauge of services edged up to 51.9 last month from 51.2 in March, according to data out Wednesday. Readings above 50 indicate growth. A measure of prices paid held close to the lowest level since 2020.