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US service sector grows slower

Business in the US services sector grew less rapidly in April than a month earlier. According to a survey by the ISM research institute, there was the weakest growth in more than a year and a half.

The purchasing managers’ index, the measure of activity, was 55.5, compared to 56.1 in March. That was the lowest level since August 2017. In general, economists predicted a level of 57.0. A position above 50 indicates growth, below that shrinkage.

The British research firm Markit came up with its own definitive figures about the American services sector. That index recorded a score for April of 53.

About the author: Christy Olsen

Christy Olsen, a young author who followed in her father's footsteps and took up journalism at school. She often introduces a lot of subjective things into his texts, always tries to state the essence and give a proper assessment.

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