Service-Sector Activity Index Hits Lowest Level Since January '10

Politics Reuters

The pace of growth in the U.S. services sector slowed in June to its lowest level since January 2010 as new orders waned, though employment improved, an industry report showed on Thursday.

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The Institute for Supply Management said its services index fell to 52.1 from 53.7 in May, shy of economists' forecasts for 53.0, according to a Reuters survey.

A reading above 50 indicates expansion in the sector.

The new orders component slipped to 53.3 from 55.5, while the employment measure rose to 52.3 from 50.8.