Tempe, AZ, October 4, 2006--Nonmanufacturing sectors of the economy expanded at a slower pace during September, the Institute for Supply Management reported Wednesday.
The ISM nonmanufacturing index fell to 52.9% from 57.0% in August. The drop was sharper than expected.
Economists were looking the index to slip to 56.2%.
The headline index is not a weighted average of the survey's other key components.
New orders rose to 57.2% from 52.1%. The employment index rose to 53.6% from 51.4%. Inflation pressures eased sharply.
The price index plunged to 56.7% from 72.4% in the previous month.
