Services sector underperforms in December
The services sector continued to underperform in December as activity in the property and business services and the finance and insurance sub-sectors fell, a survey shows.
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.