U.S. Services Industries Expand at Weakest Pace in Six Years

September 6, 2016 2:04 PM

26 0

America’s service industries expanded in August at the weakest pace in six years, joining manufacturers in an abrupt slowdown that may signal waning optimism about the economy.

The Institute for Supply Management’s non-manufacturing index slumped to 51.4, the lowest since February 2010, from 55.5 in July, the Tempe, Arizona-based group’s report showed Tuesday. While a reading above 50 indicates the industries that make up almost 90 percent of the economy are expanding, the...

Also read: U.S. Industrial Production Rose 0.7% in April

Read more

To category page