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View All NewsService-sector activity declines more slowly
May 05, 2009
Economic activity in the U.S. service sector shrunk in April, but at a slower rate than in March, the Institute for Supply Management reported today. Its nonmanufacturing index rose to a reading of 43.7, up from 40.8 in March.
Only index readings above 50 indicated expansion, and April represented the seventh month of contraction in the index.
Employment in the services sector also shrunk at a slower pace in April than in March. The employment portion of the index rose to a reading of 37.0 in April from 32.3 in March.