Investing.com - Service sector activity in the U.S. grew at the slowest pace in almost two years in February. The Institute of Supply Management said its non-manufacturing PMI fell to 53.4 from 53.5 in January. Analysts had expected the index to tick down to 53.2. The employment index fell to 49.7 from the January reading of 52.1. It is the first time the employment index has contracted since February 2014. The downbeat data indicated that weakness in the U.S. manufacturing sector is spreading to the services sector.