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U.S. markets recover from steep losses
TEMPE, Ariz., April 3 (UPI) -- A leading index of business activity indicated the non-manufacturing sector almost broke even in March, the Institute for Supply Management said Thursday.
The ISM index grew by 0.3 percent to 49.6 percent in March, the third consecutive month of contractions, and almost at the break-even point which is 50 percent.
New orders increased in March by 0.6 percent to 50.2 percent, indicating slight growth. The non-manufacturing employment index showed continued contraction, however, at 46.9 percent.
The price index grew to 70.8 percent "indicating a faster rate in price increases than in February," Anthony Nieves, chairman of the ISM Non Manufacturing Business Survey Committee said.
Eleven industries showed growth in the March, including real estate, mining, agriculture, construction, utilities and retail trade and healthcare, the report said. Declines were noted in transportation and warehousing, wholesale trade, educational services, finance, management and scientific and technical services.
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