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Economic activity in the non-manufacturing sector grew in September but at a slower rate, according to the Institute for Supply Management’s Non-Manufacturing Report on Business released today.
The institute’s non-manufacturing index fell in September to a reading of 54.4, down from August’s reading of 58.6, which reflected the highest reading since January 2008. Readings above 50 indicate growth.
The employment portion of September’s index fell to a reading of 52.7 from August's reading of 57.0.