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View All NewsIndex: Service sector's expansion cools
July 06, 2010
Economic activity in the U.S. service sector continued to expand in June, but at a slower pace than in May, according to the Institute for Supply Management's nonmanufacturing index.
The index's reading of 53.8 fell from May's reading of 55.4. Still, index readings of more than 50 generally indicate expansion.
However, the employment portion of the index contracted in June with a reading of 49.7. It had posted a growth reading of 50.4 in May.