(CercleFinance.com) – Growth in the tertiary sector in the United States slowed more markedly than expected in March, show the results of the latest monthly survey carried out by the Institute for Supply Management (ISM) among directors of purchases.
The ISM services index fell to 51.4 last month, compared to 52.6 in February, while economists expected it to rise slightly, or at worst unchanged.
The activity sub-index barely rose, to 57.4 from 57.2 the previous month, while the new orders component fell to 54.4 from 56.1.
The employment component shows a slight increase to 48.5 after 48 in February, while that of prices fell significantly to 53.4 against 58.6 a month earlier.
The services sector has nevertheless been in an activity growth zone, that is to say above the 50 point mark, during 45 of the last 46 quarters, the last episode of contraction dating back now until December 2022.
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