Economic activity in the U.S. service sector continued to expand in the month of January, according to a report released by the Institute for Supply Management on Tuesday, although the report also showed a slowdown in the pace of growth.
The ISM said its non-manufacturing index edged down to 55.2 in January from a revised 55.7 in December, with a reading above 50 indicating continued growth in the service sector.
Economists had been expecting the index to slide to 55.1 from the 56.1 originally reported for the previous month.
by RTT Staff Writer
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