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U.S. service sector shrank again in May: ISM

NEW YORK
Wed Jun 3, 2009 11:01am EDT

NEW YORK (Reuters) - The U.S. services sector shrank again in May, according to a report released on Wednesday.

Crisis in Credit  |  Economy

The Institute for Supply Management's nonmanufacturing index edged up to 44.0 in May from 43.7 in April.

Economists' median forecast in a Reuters poll called for a reading of 45.0, below the 50 mark which divides expansion from contraction.

The services sector represents about 80 percent of U.S. economic activity, including businesses such as banks, airlines, hotels and restaurants.

(Reporting by Burton Frierson; Editing by James Dalgleish)
Crisis in Credit
Economy


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