GROWTH SLOWS: The U.S economy's service sector grew in April for the 17th straight month. But the expansion was at the slowest pace since August.
DEMAND FALLS: Rising food and gas prices have left consumers with less money to spend elsewhere, leading to a decline in demand for services. The service-sectors' measure of new orders plummeted to its lowest level since December 2009.
HIRING WEAKENS: A measure of employment in the service-sector report fell for a second straight month and is at its lowest level since September.