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February 4, 2010

Signs of recovery in U.S. service sector

  • More business for hospitals, retail, financial services or shippers should mean service companies will be more inclined to hire.
    • By TALI ARBEL
    AP Business Writer

    NEW YORK — The economy's service sector grew slightly in January, while the pace of job losses slowed, signaling a recovery still struggling to gain strength.

    The Institute for Supply Management said Wednesday its service sector index rose to 50.5 last month, from a downwardly revised 49.8 in December. Economists polled by Thomson Reuters had expected a higher level of 51. Still, it was the index's strongest reading since May 2008.


     
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