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Service sector posts slight growth

September 04 2008

The U.S. service sector posted growth in August after contracting in July, but the Institute for Supply Management's nonmanufacturing index released today was still relatively flat. The index rose to 50.6 in August from 49.5 in July. Readings above 50 indicate expansion.

The employment portion of the index fell to a reading of 45.4 in August from 47.1 in the previous month.

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

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