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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (48993)	8/5/2002 10:22:08 AM
From: yard_man	Respond to of 209892

Reuters Market News U.S. service sector growth slows in July NEW YORK, Aug 5 (Reuters) - The U.S. service sector grew for a sixth straight month in July but the pace of expansion relented, a report said on Monday, adding to recent evidence that the U.S. economy's fragile recovery may be faltering. ADVERTISEMENT The Institute for Supply Management said its monthly non-manufacturing index fell to 53.1 in July from 57.2 in June, below analysts' forecasts for a dip to 54.6. A number above 50 indicates growth in the sector that makes up more than two-thirds of the economy, while anything below 50 denotes contraction. In a sign the pace of growth may slow even further in coming months, the new orders index -- a gauge of future demand -- fell to 52.6 from 56.9 in June. Survey respondents said that while the economy continued to improve, the outlook remained cautious through year-end. The report said the pace of layoffs slowed as the employment index rose to 45.8 in July from 44.3 in June, but it still marked the 17th straight month of job losses. ISM, formerly called the National Association of Purchasing Management, compiles its diffusion index by surveying more than 370 purchasing executives in more than 60 service industries once a month. The responses reflect the change in the current month compared to the previous month.