April 5, 2007
Service industry growth slows
By Matthew L. Brown
The non-manufacturing sector of the U.S. economy slowed to its weakest pace in four years in March, the Institute for Supply Management reported.
In March, the ISM services index fell to 52.4 percent from 54.3, the lowest level since April 2003.
Readings over 50 percent in the ISM index indicate expansion in the sector. The index is showing slow growth, not contraction. The index has been above 50 percent for 48 straight months.
In March, the ISM services index fell to 52.4 percent from 54.3, the lowest level since April 2003.
Readings over 50 percent in the ISM index indicate expansion in the sector. The index is showing slow growth, not contraction. The index has been above 50 percent for 48 straight months.
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