Friday, May 03, 2013 12:43 pm
News Summary: US service firms grew at slower pace
By The Associated Press
LESS CONSUMER DEMAND: The decline in the index suggests some service companies may be starting to see less consumer demand, in part because of higher Social Security taxes that took effect Jan. 1.
STEEP DROP IN PRICES: April's weakness in was largely because of a steep drop in a measure of prices. Nearly 70 percent of companies surveyed said they didn't change their prices last month, while 10 percent lowered them.