Thursday, April 03, 2008

ISM Services Index

The US services sector contracted once again in the month of March, but at a slower rate than anticipated, according to the Institute of Supply Management's monthly survey on economic conditions. The index was up for the month, at 49.6, from 49.3 in February. Economists were expecting a decline, at a number closer to 48.5.

The business activity and new orders expanded for the month, while the employment index showed contraction. Prices increased, showing a reading of 70.8, from 67.9 in February.

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