Service sector grew for the fourth consecutive month

Service sector grew for the fourth consecutive monthAn industry group said on Wednesday that business activity in the U. S. service industries sector grew for the fourth consecutive month in April.

The non-manufacturing sector grew at the same pace in April as it did in March, as the headline index remained unchanged at 55.4, the Institute for Supply Management said.

It was reported that numbers above 50 indicate growth while contractions are shown by numbers below 50.

The new orders index, at 58.2, showed growth, but at a slower pace than a month ago when new orders stood at 62.3.

The report further said that the employment index contracted for the 28th consecutive month, but just slightly in April with the index at 49.5. Export orders remain positive at 57 while imports, at 56.5, grew at a slower pace. (With Inputs from Agencies)