Service sector rebounds slightly

Via CNNMoney.com …

A key index of business activity in the nation’s services industry rose unexpectedly in March, but the indicator remained below the level that shows growth in the sector.

The Institute of Supply Management’s March report on businesses outside of the manufacturing sector rose to an index reading of 49.6 from 49.3 in February, the ISM announced Thursday. Economists were expecting a reading of 48.5, according to a consensus compiled by Briefing.com.

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