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Report: Expansion Slows in US Services Sector


The services sector of the U.S. economy grew a little more slowly in November.

Monday's report from a business group, The Institute for Supply Management, says its index of growth eased 1.5 downward to a reading of 58.5.

In this index, any reading above 50 indicates growth.

Services include a huge number of non-manufacturing businesses, everything from barber shops to airlines, and make up the majority of activity in the U.S. economy.

Some analysts say the businesses included in the survey had a "generally positive" outlook in the U.S. economic situation, but remain concerned about high energy prices.

Some information for this report provided by Bloomberg, AP and Reuters.

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