(CercleFinance.com) – Growth in activity in the American services sector was weaker than expected in April, shows the monthly survey by the Institute for Supply Management (ISM) published on Wednesday.
The ISM services index fell to 57.1 last month from 58.3 in March, while economists expected a small rise around 58.5.
It was the new orders component that suffered the sharpest decline, to 54.6 from 60.1 the previous month, followed by the employment sub-index, which fell to 49.5 from 54.
The component linked to activity and production, on the other hand, rose to 59.1 from 55.5 in March.
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