US Services Activity Moderates as Orders Growth Slides
- ISM services gauge fell to 53.6 in September from 54.5
- Index of new orders declined to lowest level this year
Workers manufacture dinnerware at a factory in Newell, West Virginia.
Photographer: Luke Sharrett/BloombergThis article is for subscribers only.
Growth in the US service sector moderated in September as a measure of new orders slid to the lowest level this year.
The Institute for Supply Management’s overall gauge of services fell by nearly a point to 53.6, data out Wednesday showed. Readings above 50 indicate expansion, and the September figure was in line with the median estimate in a Bloomberg survey of economists.