US services activity, prices surge in March: survey

New York (AFP) – Activity in the US services sector hit an all-time high in March, but the sudden surge in business stretched supply chains and lifted prices, a report said Monday. The Institute for Supply Management’s purchasing managers index hit 63.7, up from 55.3 the prior month, according to a statement. That reading tops the prior record in October 2018. Both the business activity and new orders benchmarks hit records in March, while employment activity rose for the third straight month. But the report was not without some warning signs.  Some companies told the ISM they were experiencin…

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