US Service Sector Growth Accelerates as New Orders Climb in March
The ISM Services New Orders Index rose to 60.6 in March, up from 58.6 the previous month, signaling increased demand in the US service sector.
The Institute for Supply Management (ISM) reported an uptick in service sector demand for the month of March. The New Orders Index, a key gauge of future business activity, climbed to 60.6, surpassing the previous month’s reading of 58.6.
This two-point increase signals a strengthening in incoming business volume across the United States services industry. The index serves as a primary indicator for economic momentum, with readings above 50 generally reflecting expansion within the sector. The latest data highlights a positive trend in service-based activity as the index continues to show robust growth markers heading into the second quarter.