Business in the US services sector grew less strongly in March than a month earlier. ISM research institute announced this.
The purchasing managers’ index, the measure of activity, was 56.1 compared to 59.7 in February. Economists generally predicted a level of 58.0. A position above 50 indicates growth, below that shrinkage.
The British research firm Markit came up with its own definitive figures about the American services sector. That index recorded a position for March of 55.3.
