TechFlow News, April 6: According to JINSHI Data, U.S. service-sector economic expansion slowed in March, with job losses reaching the largest monthly decline since 2023 and input prices surging sharply. Data released Monday showed the Institute for Supply Management (ISM) Services Price Index rose to 70.7—the highest level since October 2022—up 7.7 points from the prior month, marking the largest increase in nearly 14 years. The ISM Services Index fell 2.1 points to 54, primarily driven by weak employment and a slowdown in business activity growth. Energy and other input costs surged amid the Iran conflict, placing pressure on businesses. The ISM Services Employment Index dropped 6.6 points to 45.2—the largest monthly decline since the pandemic began. The Business Activity Index declined 6 points to 53.9, the steepest drop since mid-2024. The Supplier Deliveries Index rose to its highest level since October 2024. New orders for service providers posted their strongest growth in over three years.
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