According to the Institute for Supply Management, the US service sector expanded slower in the beginning of 2013 compared to the December non-manufacturing PMI data. ISM non-manufacturing PMI rose to 55.2 in January vs 55.7 in December.
ISM employment index grew 2.2 points to 57.5 from 55.3 a month earlier.
ISM reported on non-manufacturing index growth to 55.2 in January vs 55.7 in December. The new orders index fell to 54.4 from 58.3 in December and production dropped to 56.4, from 60.8.
Reading over 50 indicate that more companies are expanding instead of shrinking.