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Service sector growth has slowed down since August 2017



  An employee at the LIC Corner Cafe prepares an expresso for customers in Long Island City, New York, November 7, 2018.

Eduardo Munoz | Reuters

A LIC Corner Cafe worker prepares an expresso for customers in Long Island City, New York, November 7, 2018.

Growth in the US service sector fell more than expected and reached its slowest pace for more than a year , according to data from the Institute for Supply Management released Wednesday.

The ISM report also follows weaker than expected job data released earlier in the day, with private payrolls increasing by 129,000 last year, well below the expected 173,000 print, according to ADP and Moody's Analytics. The Private Payroll Report is used by investors as a preview to the monthly US Work Report.

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