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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: zonder who wrote (3555)4/5/2004 10:45:15 AM
From: mishedlo  Read Replies (1) of 116555
 
U.S. March nonmanufacturing index hits record high By Greg Robb
WASHINGTON (CBS.MW) -- Activity in the nonmanufacturing sectors of the U.S. economy hit a record high in March, the Institute for Supply Management reported Monday. The ISM's nonmanufacturing index rose to 65.8 percent from 60.8 in February, indicating improving conditions in the services sector. The increase was larger than expected. Economists expected the index to rise to 61.2 percent. Fifteen of 17 industries grew in March. New orders rose to 62.8 percent from 60.3 percent. The employment index rose to 53.9 percent from 52.7 percent. The prices paid index jumped to 65.7 percent from 57.3 percent. Readings over 50 percent in the diffusion index indicate expansion in those sectors. There were significant reports of commodities in short supply in March, the ISM said.
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