Services Sector Expands at Slower Pace in April
Washington, DC, May 3, 2013 -- The services sector of the economy expanded at a slower pace in April than March, according to the Institute for Supply Management.
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ISM said its index of non-manufacturing activity fell to 53.1 in April from 54.4 in March. Any reading above 50 indicates expansion.
The report measures about 90% of the work force.
Fourteen of the 18 industries reported expansion in April.