A private survey finds U.S. services companies grew last month at the slowest pace in more than six years.
The Institute for Supply Management says its services index fell to 51.4 last month from 55.5 in July. The August reading was the lowest since February 2010.
Experts say that was much weaker than expected. Still, anything above 50 signals growth, and services firms have now expanded for 79 straight months.
New orders and hiring grew more slowly in August. Export orders fell.
The ISM is a trade group of purchasing managers. Its services survey covers businesses that employ the vast majority of workers, including retail, construction, health care and financial companies.
