Manufacturing remains in contraction, although the pace of the decline has eased. Services came closer to the threshold indicating a decline in activity. | Economy
The growth of the U.S. economy slowed for a second consecutive month in September, according to a pair of survey results released by S&P Global Friday.
That puts the composite index fractionally above the threshold of 50 that separates expansion from contraction. The services sector index fell to an eight-month low of 50.2 from 50.5 in the prior month, also nearing contraction territory. Demand for workers has not fallen off despite the slowdown. Hiring activity increased in September and the rate of job creation rose to the fastest pace since May. Both services and manufacturing increased the pace of hiring.
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