U.S. services sector expands slower in December amid cooling economy

WASHINGTON, Jan. 5 (Xinhua) -- The U.S. services sector posted slower growth in December 2023 than the previous month amid cooling economic growth, the Institute for Supply Management (ISM) reported Friday.

The Services Purchasing Managers' Index (PMI) registered 50.6 percent, 2.1 percentage points lower than the November reading, according to the latest Services ISM Report on Business.