ISM Services Index Declines in September

The U.S. economy’s service sector declined but showed expanded in September, the Institute for Supply Management said Friday.

ISM’s monthly services index fell to a reading of 50.2, from 50.6, in August, the group said. Figures of more than 50 indicate expansion, while below that shows contraction.

The services index measures non-manufacturing components of the economy.

Economists had forecast a reading of 50, Bloomberg reported.

The services sector, which includes transportation, retail sales and financial services, accounts for nearly two-thirds of the U.S. gross domestic product.