Service sector contracts, but at slower pace

WASHINGTON — A private measure of the U.S. services sector contracted for the seventh straight month in April but at a slower pace, the latest sign the economic downturn could be moderating. The services index from the Institute for Supply Management, a Tempe, Ariz.-based trade group of purchasing executives, came in at 43.7 in April compared with 40.8 in March. Any reading below 50 indicates the service sector, where most Americans work, is contracting. For the full story click here