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View All NewsService sector's contraction slows in January
February 04, 2009
Economic activity in the U.S. service sector contracted in January, but at a slower rate than in December, according to the Institute for Supply Management's nonmanufacturing index released today. The index rose to 42.9 in January from 40.1 in December.
Index readings above 50 indicate expansion.
Only two service-sector industries reported growth in January healthcare & social assistance and finance & insurance.