US services sector growth slows down in March, ISM says

- Advertisement -
KEY POINTS
  • The ISM non-manufacturing index fell to 52.5 last month from 57.3 in February.
  • “Respondents are concerned about the coronavirus impact on the supply chain, operational capacity, human resources and finances, as well as the ramifications for the overall economy,” said Anthony Nieves, chair of the Institute for Supply Management, in a statement.
- Advertisement -
- Advertisement -
- Advertisement -
GP: Maryland Diner Hands Out Meals Coronavirus 200402
Silver Diner regional manager Omar Martinez, chef Ricardo Alvarez and operating partner Mandeep Shrestha carry out the last of that day’s 400 free meals to be given away during the coronavirus pandemic April 02, 2020 in Gaithersburg, Maryland.
Chip Somodevilla | Getty Images

Activity in the U.S. services sector slowed down in March as business grapple with the coronavirus outbreak, data released Friday by the Institute for Supply Management showed.

The ISM non-manufacturing index fell to 52.5 last month from 57.3 in February. Economists polled by Dow Jones expected the ISM services index to fall to 45. To be sure, the report may not capture the full extent of the virus’ impact on the economy, meaning future data on the sector could be much worse.

“Respondents are concerned about the coronavirus impact on the supply chain, operational capacity, human resources and finances, as well as the ramifications for the overall economy,” said Anthony Nieves, chair of the Institute for Supply Management, in a statement.

More than 1 million coronavirus cases have been confirmed around the world, according to data from Johns Hopkins University. In the U.S. alone, more than 245,000 cases have been confirmed.

Friday’s report came after a dismal U.S. jobs report, which showed nonfarm payrolls fell by 701,000 last month.

Home of Science
Follow me

- Advertisement -

Discover

Sponsor

Latest

Ethiopia civil war: Hyenas scavenge on corpses as Tigray forces retreaton October 18, 2022 at 11:18 pm

Horrific accounts from a brutal war in Ethiopia that has left tens of thousands dead.Horrific accounts from a brutal war in Ethiopia that has...

Nurse accused of murder ‘cared deeply about babies’on October 13, 2022 at 2:31 pm

Lucy Letby was a dedicated nurse who cared deeply for the babies and their families, a court hears.A nurse accused of murdering babies on...

The Papers: Sunak’s bid to ‘save’ career and ‘horror’ at stationon April 8, 2022 at 10:25 pm

Many papers lead with news the chancellor's wife will pay UK taxes amid a row over her nom-dom status.

Raheem Sterling confirms Manchester City departure before Chelsea moveon July 13, 2022 at 12:47 pm

England forward Raheem Sterling confirms his departure from Manchester City before a £50m move to Chelsea.England forward Raheem Sterling confirms his departure from Manchester...

Watch: Brazilian player scores own goal that authorities and police could investigateon September 6, 2022 at 4:42 pm

Watch Atletico Amazonese's Julio Campos score an incredible own goal in the 89th minute with his side already losing 3-1 to Sul America in...
Home of Science
Follow me