US service industry grows more slowly in December

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    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.

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