Growth in Services Sector Slows in June

Tempe, AZ, July 3, 2013 -- The Institute for Supply Management said the services sector grew at a slower pace in June, with the index hitting 52.2%, compared with 53.7% in May.

Readings above 50% signal an expanding services sector. Economists had expected a June reading of 54.4%.

Of the key subindexes, the business-activity index declined almost five points to 51.7% in June.