The pace of growth in the US services sector ticked down unexpectedly in July to the lowest level since February 2010, according to an industry report.
The Institute for Supply Management said its services index fell to 52.7 last month from 53.3 in June. The reading fell shy of economists' forecasts for 53.6, according to a Reuters survey.
The new orders gauge slipped to 51.7 from 53.6, while employment fell to 52.5 from 54.1.
A reading above 50 indicates expansion in the sector.
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Reuters
