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Thursday, Apr 25, 2024

Services sector shrank in February, 5th straight month

WASHINGTON — A private measure of the services sector shrank in February for the fifth straight month as layoffs mounted, the recession deepened and the outlook for any recovery this year grew darker. The Institute for Supply Management, a Tempe, Ariz.-based trade group of purchasing executives, said Wednesday that its services index fell to 41.6 last month from 42.9 in January. The February reading was slightly above economists’ expectations. For the full story click here

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