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After growing for fifteen consecutive months, U.S. service sector activity unexpectedly contracted in the month of April, according to a report released by the Institute for Supply Management on Friday.

After reporting stronger than expected job growth over the past several months, the Labor Department released a report on Friday showing employment in the U.S. increased by much less than expected in the month of April. The Labor Department said non-farm payroll employment climbed by 175,000 jobs in April after surging by an upwardly revised 315,000 jobs in March.

After reporting stronger than expected job growth over the past several months, the Labor Department released a report on Friday showing employment in the U.S. increased by much less than expected in the month of April.

New orders for U.S. manufactured goods surged in line with economist estimates in the month of March, according to a report released by the Commerce Department on Thursday. The Commerce Department said factory orders shot up by 1.6 percent in March after jumping by a downwardly revised 1.2 percent in February.