Economics
Service Industries in U.S. Expand at Fastest Pace on Record
- ISM orders, activity gauges also strongest in data to 1997
- Measure of prices paid climbs to highest since July 2008
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U.S. service providers experienced the fastest growth on record in March as measures of business activity and orders advanced to new highs.
The figures from the Institute for Supply Management on Monday underscore how looser business restrictions and increasing economic activity are igniting a rebound in sectors hardest hit by the pandemic and fueling job gains.