Service sector of U.S. economy expands at slower pace in March: ISM
The numbers: Service-oriented companies such as banks, retailers and tech developers expanded in March at the slowest pace in 19 months, but top executives remained “mostly optimistic” about the U.S. economy, a new survey shows.
“The data are consistent with moderate rather than dramatic slowing in the economy,” said chief U.S. economist Jim O’Sullivan of High Frequency Economics. Executives are still worried about U.S. trade tensions with China as well as a softer global economy, but most respondents were generally upbeat.What they are saying? An “initial surge in business at the beginning of the year has peaked and settled to a more stable level,” said a senior executive at technology company.
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