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January 04 2008
Economic growth in the service sector cooled in December, according to the Institute for Supply Management's non-manufacturing business activity index released today. The index fell to 53.9 in December from 54.1 in November. It was the lowest reading since March, however, index readings above 50 indicate expansion.
The employment portion of the index rose to 52.1 in December from 50.8 in November.
The report is based on a survey of purchasing and supply executives across the country.