Services growth cools in September as orders slow

Washington

THE pace of growth in US services industries cooled last month from the best readings in a decade, a sign consumers may be taking demand down to a more sustainable level in the face of global weakness.

The Institute for Supply Management's (ISM) non-manufacturing index declined to 56.9 in September from 59 the prior month, the Tempe, Arizona-based group said on Monday. A gauge above 50 denotes expansion, and the median estimate in a Bloomberg survey of economists called for a reading of 57.5.