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he Institute for Supply Management said Wednesday its services index fell to 61.7 in April, from 63.1 in March.

The services index measures the economy’s largest segment, including retail, financial, construction and other non-manufacturing industries, like trucking.

As with all ISM indices, figures above 50 indicate expansion. Bloomberg reported economists had forecast the indicator would fall to 61.

The services index was about 62.4 for all of 2004, and the April dip suggested the economy may fall short of last year’s growth, Bloomberg reported.

ISM said service-sector employment rose at a slower rate in April than March, falling to 53.3 from 57.1.

ISM respondents’ comments were mixed, with some voicing concerns over rising interest rates and energy and materials costs, and others saying that steel availability seems to have improved slightly and price increases have leveled off slowly.

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