From Yahoo! Finance
U.S. services sector activity slowed to a 6-1/2-year low in August amid sharp drops in production and orders, pointing to slowing economic growth that further diminished prospects for an interest rate hike from the Federal Reserve this month. "While this report is a little disappointing, it is important to note that the index had been running a little hot compared with underlying economic activity. As such, we expect a modest rebound in future ISM readings," said Gregory Daco, head of U.S. macroeconomics at Oxford Economics in New York.