Transport Topics Online
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
10/3/2013 10:05:00 AM Write a Letter to the Editor Write a letter to the Editor

U.S. Service Industry Growth Slows in September

The service industry in the United States grew at a slower pace in September, according to the Institute for Supply Management’s nonmanufacturing index.

The ISM index declined to a reading of 54.4 in September from 58.6 the prior month, the biggest decrease since November 2008, according to the Tempe, Ariz.-based group. A reading above 50 shows expansion.

The median estimate by economists was 57, according to Bloomberg News.

The first government shutdown in 17 years threatens to slow demand for everything from auto purchases to air travel, Bloomberg reported.

“What happens over the next few weeks with the fiscal debate is really going to have an impact on confidence and sentiment for the rest of the year,” Thomas Simons, an economist at Jefferies in New York told Bloomberg.

Because of the shutdown of the federal government, the Commerce Department report on factory orders was not released Oct. 3.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2013, Transport Topics Publishing Group. All rights reserved.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising




© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement