ISM Services Index Declines

The economy’s service sector growth slowed slightly in September from the previous month, the Institute for Supply Management said Wednesday.

The reading slipped to 54.8 from 55.8, ISM said. The index measures non-manufacturing components of the economy, and figures of more than 50 indicate expansion.

Analysts had expected the index to fall to 54.6, Bloomberg reported.

The services sector, which includes transportation, retail sales and financial services, accounts for nearly two-thirds of the U.S. gross domestic product.