The growth of the US service industry has slowed down, and the price index has dropped to a four-year low
2024-04-03 14:07:03
On April 3rd, it was reported that in March, the growth of the US service industry slowed down for the second consecutive month, while a measure of input costs fell to a four-year low. The non manufacturing PMI of the US ISM fell 1.2 to 51.4 in March, mainly reflecting a record low in the supplier delivery index. The non manufacturing price index fell by more than 5 points to 53.4, the lowest level since March 2020. This is in stark contrast to ISM manufacturing data. The service industry price data may ease market concerns that the Federal Reserve's progress on inflation may come to a halt.
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