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Service sector growth loses more steam

October 03 2007

Service sector growth slowed in September, the Institute for Supply Management reported today. The non-manufacturing business activity index slipped to 54.8 in September from 55.8 in August. The index has been falling since reaching 60.7 in June.

The service sector's employment index, however, rose to 52.7 in September from 47.9 in August.

The eight industries reporting growth in September were healthcare and social assistance; retail trade; utilities; transportation and warehousing; other services; public administration; wholesale trade; and finance and insurance.

The five industries reporting decreased activity include agriculture, forestry, fishing, and hunting; arts, entertainment, and recreation; management of companies and support services; information; and professional, scientific and technical services.


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