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Economic activity in the non-manufacturing sector grew in April but at its slowest pace since last July, according to the Institute for Supply Management’s non-manufacturing report on business released today.
The institute’s non-manufacturing business activity index fell in April to a reading of 53.1 — its lowest reading since July — from March's 54.4 reading. Readings above 50 indicate growth.
The employment portion of April’s index reported its lowest reading since last November at 52.0, down from March’s reading of 53.3.