Service sector shrinks less in June
Written on July 9, 2009
The service sector contracted in June, but at a slower pace than in May, according to a report released Monday.
The Institute for Supply Management’s services index rose to 47.0 last month from 44.0 in May, above economists’ median forecast for a rise to 46.0. The dividing line between growth and contraction is 50 direct payday loans.
The services sector represents about 80 percent of U.S. economic activity, including businesses such as banks, airlines, hotels and restaurants.
Filed in: business.