U.S. service sector growth slows in December
Xinhua,January 06, 2018 Adjust font size:
WASHINGTON, Jan. 5 (Xinhua) -- U.S. non-manufacturing economic activity declined in December 2017 from the previous month, but was still well on track of expansion, according to data released by the Institute for Supply Management (ISM) on Friday.
The measure of economic activity in service sector fell to 55.9 in December, which is 1.5 percent lower than the November reading of 57.4 percent, data showed.
"This represents continued growth in the non-manufacturing sector at a slower rate," said ISM. The December figure represents the 96th consecutive month of growth in service sector.
The index of non-manufacturing activity measures economic activities in 17 industries, including retail trade, arts, finance, etc.
A reading above 50 indicates expansion in the service sector, and a reading below 50 means contraction. Enditem