Economics
U.S. Services Growth Improves as ISM’s March Gauge Climbs to 58.3
- ISM measure rose to 58.3 in March, first gain in four months
- Index of employment increases by the most since January 2021
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Growth at U.S. service providers picked up in March as employment and orders strengthened, indicating the economy is on solid footing despite high inflation.
The Institute for Supply Management’s gauge of services increased to 58.3 last month from 56.5 in February, according to data released Tuesday. Readings above 50 signal expansion. The gain was the first in four months.