U.S. service sector contracts in December, price increases slow – ISM survey

WASHINGTON — U.S. services industry activity contracted for the first time in more than 2-1/2 years in December amid weakening demand, while the pace of increase in prices paid by businesses slowed considerably, offering more evidence that inflation was abating. The Institute for Supply Management (ISM) said on Friday its non-manufacturing PMI dropped to 49.6 [……
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