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UPDATE:The U.S. services industry expanded at a slower than expected pace in April, new data out of the Institute for Supply Management showed.
The key Non-Manufacturing Index declined to 53.5 from 56.0 a month earlier. A reading above 50 indicates expansion.
Nearly across the board, the report showed less positive results, with lower readings of employment, new orders, and business activity.
Respondents to the survey offered a mixed picture of the U.S. non-manufacturing industry, although most noted better results than seen in 2011.
“Business conditions have improved in March and April 2012,” a respondent within the professional, scientific and technical services sector said. We have received more job inquiries and job awards in this period. The increase is about 15 per cent.”
Below, key outputs from the report.
Minutes away from the final major data point of the day: ISM Non-Manufacturing.
The report, which will characterise the strength of the U.S. service’s industry, is expected to decline 70 basis points to 55.3 in April.
If that figure holds, it would represent strong growth in the U.S., albeit at a slower pace than in March.
The announcement is expected at 10:00 a.m.