ISM Non-Manufacturing for March Worse Than Expected at 57.3
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Non-manufacturing services activity in the U.S. fell more than expected last month, but stayed above the level needed to signal growth in this critical component of the economic recovery.
The Institute for Supply Management reported Tuesday that its index on non-manufacturing services activity declined to 57.3 in March, down from 59.7 in the prior month.
Economists had anticipated the measure would come in little changed at 59.5.
For the index, a reading about 50 indicates growth for roughly 90 percent of the economy. The measurement averaged 56.1 in the five years leading to the economic recession starting in December 2007.
The Institute for Supply Management reported Tuesday that its index on non-manufacturing services activity declined to 57.3 in March, down from 59.7 in the prior month.
Economists had anticipated the measure would come in little changed at 59.5.
For the index, a reading about 50 indicates growth for roughly 90 percent of the economy. The measurement averaged 56.1 in the five years leading to the economic recession starting in December 2007.
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