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U.S. Non-Manufacturing Index Drops More Than Expected In December

A report released by the Institute for Supply Management on Monday showed growth in U.S. service sector activity slowed by more than anticipated in the month of December.

The ISM said its non-manufacturing index dropped to 57.6 in December after inching up to 60.7 in November.

While a reading above 50 still indicates service sector growth, economists had expected the index to dip to 59.0.

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