US services sector gauge scales record high; cost pressures mounting

US services sector gauge scales record high; cost pressures mounting

The Edge Markets - World·2021-04-06 05:04

WASHINGTON (April 5): A measure of US services industry activity surged to a record high in March amid robust growth in new orders, in the latest indication of a roaring economy that is being boosted by increased vaccinations and massive fiscal stimulus.

The upbeat survey from the Institute for Supply Management (ISM) on Monday followed news on Friday that the economy added 916,000 jobs last month, the most since August. Economic growth this year is expected to be the best in nearly four decades.

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America Business Economy

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