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US Economy

An industry association reported Tuesday that the growth of American service companies in January was the slowest in six months, but they are still growing quickly enough to reflect a healthy economy.

WASHINGTON – An industry association reported Tuesday that the growth of American service companies in January was the slowest in six months, but they are still growing quickly enough to reflect a healthy economy.

The Institute for Supply Management’s report shows its service index fell from 58 percent in December to 56.7 percent last month, the lowest number since last July.

However, any reading above 50 indicates growth. Service industries – which employ most Americans – have been expanding for 108 straight months, according to the report.  

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