Growth in activity in the United States services industry eased in March, the Institute for Supply Management (ISM) reported on Wednesday. The ISM Services Purchasing Managers Index (PMI) landed at 51.4%, down 1.2 percentage points from February’s 52.6%.

The Business Activity index increased by 0.2 percentage points to 57.4%, while the Employment index expanded by 0.5 percentage points to 48.5%. However, the Prices index was down 5.2 percentage points to 53.4% and the New Orders index declined 1.7 percentage points to 54.4%.

“The decrease in the rate of growth in March and the decline in the composite index is a result of slower new orders growth, faster supplier deliveries and a contraction in employment. The report continued to reflect growth month over month,” ISM Services Business Survey Committee Chair Anthony Nieves noted.

Join the discussion: Connect with other investors on your favorite stocks or explore the top-talked-about stocks on our Breakout Boards.

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.
Some portions of this content may have been generated or assisted by artificial intelligence (AI) tools and been reviewed for accuracy and quality by our editorial team.