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Service sector growth posts slight decline

October 03 2008

Economic activity in the U.S. service sector edged down slightly in September, but still posted growth. The Institute for Supply Management's nonmanufacturing index slipped to 50.2 in September from 50.6 in August. Readings above 50 indicate expansion.

The employment portion of the index fell to a reading of 44.2 in September from 45.4 in the previous month.

The report is based on a survey of purchasing and supply executives across the country.

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