Services Sector Expands at Slower Pace in April

Washington, DC, May 3, 2013 — The services sector of the economy expanded at a slower pace in April than March, according to the Institute for Supply Management.

ISM said its index of non-manufacturing activity fell to 53.1 in April from 54.4 in March. Any reading above 50 indicates expansion.

The report measures about 90% of the work force.

Fourteen of the 18 industries reported expansion in April.