US ISM non-manufacturing index at 58.8 for March

According to the latest Non-Manufacturing ISM Report on Business, released this Wednesday, economic activity in the non-manufacturing sector grew at a slightly slower rate in March. 

Key highlights:

   •  The NMI registered 58.8 percent, which is 0.7 percentage point lower than the February reading of 59.5 percent.

   •  This represents continued growth in the non-manufacturing sector for the 98th consecutive month.

   •  The Non-Manufacturing Business Activity Index decreased to 60.6 percent, 2.2 percentage points lower than the February reading of 62.8 percent.

   •  The New Orders Index registered 59.5 percent, 5.3 percentage points lower than the reading of 64.8 percent in February. 

   •  The Employment Index increased 1.6 percentage points in March to 56.6 percent from the February reading of 55 percent. 

   •  The Prices Index increased by 0.5 percentage point from the February reading of 61 percent to 61.5 percent.