Services Sector Growth Slows in February

Washington, DC, March 5, 2014 -- The U.S. services sector grew at a slower pace in February, accoring to the Institute for Supply Management.

ISM said its nonmanufacturing index dropped to 51.6 last month from 54 in January, below the 53% forecast of economists.

The employment measure fell nearly 9 points to 47.5%, marking the lowest level since March 2010, likely due to severe winter weather.

The new-orders index edged up to 51.3% from 50.9%.

                         
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