U.S. services sector expands at slower pace in April

The U.S. services sector expanded in April at a slower rate than the previous month as employment creation decelerated, an industry report showed on Friday. Financial data firm Markit said its "flash" services Purchasing Managers Index hit 54.2 in April compared with March's final reading of 55.3. The services sector added employees at the slowest rate in almost two years, with the employment subindex at 51.0, its lowest since June 2012, down from 51.8 last month. Markit's "flash" composite PMI, a weighted average of its manufacturing and services indexes, hit 54.9 in April versus 55.7 in March.

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