US service industry grows more slowly in December

    "Fast Food Tables Chairs" by cdsessums is licensed under CC BY 2.0

    SILVER SPRING, Md. (AP) — Growth in the U.S. service industry, where most Americans work, pulled back in December after expanding at a record pace the previous two months.

    The Institute for Supply Management reported Thursday that its monthly survey of service industries declined to a reading of 62 last month, from an all-time high of 69.1 in November.

    Any reading above 50 indicates growth.

    Business activity, employment, new orders and supply deliveries all showed slower growth in December, the ISM report said.

    More from News of the North


    Add a comment

    Log in to the club to add your comment.

    Current Conditions

    Crude Oil Price