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05 May, 2021 15:27 05 May, 2021 15:26

US services PMI shows sector still growing at brisk pace in April - ISM

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America's services sector continued to grow at a brisk pace last month, stoked by strong demand across sectors, the results of a closely-followed survey revealed.

Nevertheless, reports of supply bottlenecks were also widespread.

The Institute for Supply Management's services sector Purchasing Managers' Index slipped from all-time high of 63.7 for March to 62.7 in April (consensus: 64.1).

Weighing on the PMI were reports slower deliveries by suppliers, as shown by a rise in the corresponding sub-index from 61.0 to 66.1.

In parallel, the sub-index tracking the prices paid by firms increased from 74.0 to 76.8 - to its highest level since July 2008.

Subindices for employment, order backlogs and new exports orders all improved as well.

Of the 18 sectors covered, the only one to report falling activity was Agriculture, Forestry, Fishing and Hunting, due to "delays in container deliveries".


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.