The ISM Non-Mfg Index (service sector) plunged from 57.2 in February to 53.3 in March.
In December the purchasing-managers index for service industries fell to a new low.
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Markit's preliminary index measuring service and manufacturing activity for the currency bloc fell to 47.3 in February, below expectations of 48.5.
The NASDAQ, which experienced an outage on its global index data service, led the way down, losing 37.8 points or 1.4% by 11:28 PM.
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The Fed has apparently ignored recent jumps in the ISM Mfg Index, ISM Non-Mfg Index (service sector), retail sales, durable goods orders, and the like, which indicated even the point in the recovery may be near where the employment situation improves.
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The Institute of Supply Management said its service index rose to 56.1 in December, from 54.7 the previous month.
Despite reporting the first fall in new business for six months, the index suggested Scottish service providers continued to expand activity solidly and at a slightly faster pace than their goods-producing counterparts.
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Among reports of recent weeks that came in better than forecasts were consumer sentiment, retail sales, home sales, construction spending, auto sales, factory orders, the ISM Mfg Index, the ISM Non-Mfg (service sector) Index, and so on.
And it was also reported that the ISM service sector Index grew in December at its fastest pace in four years.
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But did the better than expected jobs report cancel out the even more surprising plunge in the ISM service sector index in April, reported the previous day?
However, the ISM Non-Manufacturing Index, which measures the service sector (which accounts for 80% of jobs in the U.S.) fell to 51.5 in August from 54.3 in July, worse than forecasts, and the lowest reading since January.
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This week it was reported that the ISM Non-Mfg Index, which tracks the service sector of the economy, plunged to 52.8 in April from 57.3 in March (versus the consensus estimate of economists that it would improve to 57.8).
The seasonally adjusted HSBC Service Sector Business Activity Index fell to 51.4 in March from 54.2 in February.
The closely watched 17-nation euro zone PMI index, which measures both manufacturing and service sector strength, dropped to 48.7 in March.
However, the ISM Non-Manufacturing Index, which measures activity in the service sector (accounting for 80% of the jobs in the private sector), fell from 54.3 in July to 51.5 in August, and was ignored.
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And government debt is rising due to overgenerous civil-service pay and benefits (including index-linked pay rises twice a year).
There have been few more solid signs of recovery, although one index published this week suggested that activity in service industries was expanding for the first time since August.
The streaming video service, which was removed from the index in December, has more than doubled year-to-date and gained 1.6% Friday.
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The National Weather Service warned, for instance, that the heat index (or what it actually feels like) near the North Carolina coast could hit 120 degrees.
Another report released by the Institute for Supply Management Wednesday showed that the service industry began growing significantly last month, producing an index reading of 57.1 in December, up from 55 in November.
Financial services firms that rely on brokers and advisors face a threat from online channels which are accumulating assets faster than full service firms, partly because of the growing popularity of passive investments such as index funds and ETFs, he added.
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Property-sector losses in Hong Kong were offset by strength for index heavyweight China Mobile, which ended up 0.5% after the world's biggest cellular service operator by subscribers reported a 5.2% increase in 2011 profit.
At the same time it was reported that the ISM New Orders Index also plunged substantially, from 64.1 in March to 52.7 in April, not encouraging for service sector business activity for the next few months.
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