US service sector of economy showing sluggish recovery - KWWL - Eastern Iowa Breaking News, Weather, Closings

US service sector of economy showing sluggish recovery

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WATERLOO (KWWL) -

The US service sector, which employs nearly 90 percent of the nation's work force, grew for the 17th straight month in April, though at the slowest pace since August.

The Institute for Supply Management, a private trade group of purchasing executives, says its index of service-sector business activity dropped to 52.8 last month.  That's down from 57.3 in March and a five-year high of 59.7 in February.  Any reading over 50 indicates expansion.

The index covers a range of industries, including retail, health care, financial services and construction.

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