WASHINGTON—A measure of U.S. services industry activity dropped to a one-year low in February and employment contracted, suggesting that a slowdown in economic growth at the end of 2021 persisted beyond the disruption from the winter wave of COVID-19 cases.
The Institute for Supply Management said on Thursday its non-manufacturing activity index fell to 56.5 last month, the lowest reading since February 2021, from 59.9 in January.
