A ‘Bulls & Bears’ panel discusses a new report on manufacturing levels and what this could mean for the economy as a whole.
The services sector expanded slower than expected in September, according to the ISM Non-Manufacturing Index released Thursday.
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The closely watched metric came in at 52.6. Economists surveyed by Dow Jones expected that services remained strong in September, at 55.3 — a healthy expansion rate, but down from August’s 56.4.
Although the number remained above 50 — which shows expansion — the pace of growth in the service sector is cooling, another sign the economy is slowing down.
Earlier this week, the worst manufacturing reading in more than a decade reignited fears that the U.S. economy is headed towards a recession. The ISM September Manufacturing Index fell to 47.8 last month, the second month of contraction.
This is a developing story. Please check back for updates.
