Sluggish Growth Drags Down Service Sector

Posted by MereNews On May - 4 - 2011

Sluggish economic growth dragged down service-sector activity and produced modest job gains last month, reports on Wednesday showed.

An index of service-sector activity fell to 52.8 in April from 57.3 in March, the Institute for Supply Management said Wednesday. Readings above 50 indicate the sector is still expanding. The slower growth was caused by weakening consumer demand and price pressures for fuel and other raw materials.

Slowing improvement in the economy is likely to yield job gains that aren’t sufficiently robust to restore the labor market’s health anytime soon. A …

Article source: http://online.wsj.com/article/SB10001424052748703849204576302811095012844.html?mod=rss_economy

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