Ser­vices Sec­tor Ex­pands As Prices Gains Mod­er­ate

The Bond Buyer - - Market News - — Gary E. Siegel

The U.S. ser­vices sec­tor ex­panded at a slower pace in De­cem­ber as the non-man­u­fac­tur­ing in­dex dropped to 57.6 from 60.7 in Novem­ber, on a sea­son­ally ad­justed ba­sis, the In­sti­tute for Sup­ply Man­age­ment re­ported Mon­day.

An in­dex read­ing above 50 sug­gests ex­pan­sion. Economists polled by IFR Mar­kets had ex­pected a 59.0 level.

The prices paid in­dex slid to 57.6 from 64.3, the 34th con­sec­u­tive month prices were grow­ing, the ISM said.

The em­ploy­ment in­dex fell to 56.3 from 58.4.

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