Growth in Services Sector Slows in December

Washington, DC, Jan. 6, 2013 -- Growth in the services sector of the economy slowed in December, according to the Institute for Supply Management.

ISM said its services index for December fell to to 53% from 53.9% in November.
Economists expected a 55.0% reading.

The new-orders index fell 7 points to a reading of 49.4%, the first contraction since July 2009. Any reading above 50% indicates growth.