Service sector picks up
The service sector is picking up the pace, with faster growth in February, according to a survey, adding to an improved picture for manufacturing reported last week.
A private research group says the US service sector contracted in July as new orders decreased and prices rose, stifling growth for truckers, retailers and insurers.The Institute for Supply Management, a trade group of purchasing executives, said Tuesday its reading of the service sector was 49.5 in July, up from 48.2 in June.