Growth of U.S. ser­vice sec­tor slowed in June, group re­ports

Austin American-Statesman - - BUSINESS & PERSONAL FINANCE -

The ser­vice sec­tor — which ac­counts for about 80 per­cent of U.S. jobs — grew more slowly in June, an in­dus­try trade group said, in­di­cat­ing the eco­nomic re­cov­ery is weak­en­ing as the sec­ond half of the year be­gins.

The In­sti­tute for Sup­ply Man­age­ment, a trade group of pur­chas­ing ex­ec­u­tives, said its in­dex track­ing ser­vice-ori­ented com­pa­nies slid to 53.8 last month from 55.4 in May, the high­est point since the re­cov­ery be­gan. A read­ing above 50 in­di­cates ex­pan­sion.

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