Services Sector Expands at Slower Pace in March

Tempe, AZ, April 3, 2013 -- The services sector of the economy expanded in March at the slowest pace in seven months, according to the Institute for Supply Management.

ISM said its non-manufacturing index declined to 54.4 from a one-year high of 56 in February.

The median forecast called for a drop to 55.5. A reading above 50 indicates expansion.