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Services grow at slowest rate in 17 months
The ISM service index fell to 52.7 in July from 53.3 in June, signaling slower growth across restaurants hotels and financial firms. New orders rose at the slowest pace since 2009 while employment growth cooled but hiring continued. Wall Street saw declines as the service weakness added to weak overall demand and factory orders showed a June drop.
MENTIONED IN THIS ARTICLE
Washington, D.C
Institute For Supply Management
Wall Street
Dow Jones
ISM
Paul Dales
Capital Economics
Commerce Department