Growth in services sector slowed in August from record pace
Growth in the services sector, where most Americans work, slowed in August after setting a record pace in July.
The Institute for Supply Management reported Friday that its monthly survey of service industries decreased to a reading of 61.7 in August after hitting a record high of 64.1 in July. The July figure was the fastest pace since this data series began in 2008.
Any reading above 50 indicates growth in service industries.