ISM: US services activity declines in March

 The United States' service sector activity reported a decline in March, the Institute for Supply Management (ISM) revealed on Monday. The Services Purchasing Managers' Index (PMI) stood at 54%, down from February's 56.1% figure.

However, the New Orders Index improved, landing at 60.6%, compared to 58.6% in February. Suppliers Deliveries Index also rose, standing at 56.2%, while the Employment Index shrank to 45.2% from February's 51.8%.

"The predominant commentary this month was about impacts and adjustments due to the conflict with Iran and the expected flow through of higher oil prices at some point," the institute's Services Survey Committee Chair Steve Miller said, adding that "although tariff impacts were still noted by panelists, Iran-related impacts dominated the comments in March."

https://breakingthenews.net/Article/ISM:-US-services-activity-declines-in-March/66015214