US Service Sector Growth Misses Expectations in March

The United States service sector experienced a slower-than-anticipated expansion in March, according to the latest data from the Institute for Supply Management (ISM). The ISM Services Purchasing Managers' Index (PMI) for the month came in at 54.0, falling short of the 55.0 forecast projected by economists. While the figure remains above the 50-point threshold that signals industry growth, the underperformance highlights a cooling trend compared to market expectations.