US service sector contracts, but at slower pace

WASHINGTON (AP) The services index from the Institute for Supply Management came in at 43.7 in April compared with 40.8 in March. Any reading below 50 indicates the service sector, where most Americans work, is contracting.

Still, the reading was higher than economists expected and provides another sign the economy's steep downturn could be bottoming out.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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