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Economic activity in the nonmanufacturing sector expanded in April, but at a slower rate than in March, according to the Institute for Supply Management’s nonmanufacturing index, released today. The index fell to a reading of 53.5 in April from March’s reading of 56.0. Readings above 50 indicate growth.
The employment portion of the index fell to 54.2 in April from 56.7 in March.