Growth in Services Sector Cools in September
Washington, DC, Oct. 3, 2013 -- Growth in the services sector of the economy slowed last month after approaching an eight-year high in August, according to the Institute for Supply Management.
ISM's non-manufacturing survey index fell to 54.4 in September from 58.6 in August, which was the highest pace since December 2005. A reading above 50 in the index indicates expansion.
Employment, which hit a six-month peak of 57 in August, retreated to 52.7 last month, its lowest level since May.