Growth at US Service Providers Picks Up After Slumping in March
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Activity at US service providers accelerated in April after a slumping in the prior month, while materials prices increased in response to escalating tariffs.
The Institute for Supply Management’s index of services increased 0.8 point to 51.6 last month, the group said Monday. Readings above 50 indicate expansion, and the latest figure was stronger than all but one forecast in a Bloomberg survey of economists.