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- Jun 19, 2014
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The numbers: The large service side of the U.S. economy surged in March as governments lifted businesses restrictions and rising vaccinations gave Americans more confidence to go out and shop, travel or take a vacation.
A survey of business leaders at service-oriented firms such as banks, retailers and restaurants jumped to 63.7% last month from 55.3% in February, the Institute for Supply Management said Monday.
That’s the highest level on record since the ISM began the survey in 1997. It doesn’t mean service-oriented companies are doing better than ever, just that the improvement between February and March was especially strong.
Readings above 50% signal that businesses are expanding, and numbers above 55% are a sign of broad strength.
A similar ISM survey of manufacturers also showed great strength in March as it posted a 38-year high.
https://www.marketwatch.com/story/u...-rise-and-restrictions-are-lifted-11617631984
A survey of business leaders at service-oriented firms such as banks, retailers and restaurants jumped to 63.7% last month from 55.3% in February, the Institute for Supply Management said Monday.
That’s the highest level on record since the ISM began the survey in 1997. It doesn’t mean service-oriented companies are doing better than ever, just that the improvement between February and March was especially strong.
Readings above 50% signal that businesses are expanding, and numbers above 55% are a sign of broad strength.
A similar ISM survey of manufacturers also showed great strength in March as it posted a 38-year high.
https://www.marketwatch.com/story/u...-rise-and-restrictions-are-lifted-11617631984
