Service sector is expanding
The US service sector, the nation's predominant job generator, expanded for the eighth straight month in August although the pace of growth slowed, according to a trade group survey.
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.