USA services firms grow at slowest pace in five months

Tesla vehicles are being assembled by robots at Tesla Motors Inc factory in Fremont

Tesla vehicles are being assembled by robots at Tesla Motors Inc factory in Fremont

It was the seventh consecutive month of industrial expansion, though slowing a bit from February when the index was at its highest.

The massive United States services sector cooled in March after a strong February, the Institute for Supply Management said on Wednesday (Apr 5).

The March reading was below expectations of 57.0 from a Reuters poll of 64 economists.

The U.S. economy's manufacturing sector expanded in March but at a slower pace than the previous month, according to an earlier ISM report.

A report from energy services firm Baker Hughes on Friday showed US drillers added 137 rigs in the first quarter, the most since the second quarter of 2011.

15 of the 18 industrial reported growth for March while three reported a contraction, including professional, scientific and technical services. That still represents a robust pace of growth for America's factories and demonstrates momentum in an industry that struggled for the better part of the last two years.

Slain Texas lawman felt threat from target of probe
Greenwood was shot in the neck, but was still able to radio for help, saying, "I'm bleeding out", KTRK reported . Administrators confirm Sterling High School in Baytown has been placed on lockdown pending the investigation.

"The U.S. economic expansion remains on solid footing even taking into a account what is likely to be a pretty lackluster first-quarter growth profile", said Tom Porcelli, chief U.S. economist at RBC Markets in NY.

Non-manufacturing employment grew for the 37 consecutive month. President Donald Trump on Friday touted a National Association of Manufacturers survey showing that optimism among members was at a 20-year high.

The recent pickup in manufacturing has been a bright spot for the USA economy during a first quarter otherwise marked by tepid gains in household spending, the biggest part of gross domestic product. Gross domestic product increased at a 2.1 percent pace in the fourth quarter.

The ISM's prices index rose 2.5 percentage points in February to 70.5, the highest reading since May 2011, indicating higher raw materials prices for the 13th straight month.

In February, private construction spending rose 0.8 percent to its highest level since May 2006 after being unchanged in January.

Recommended News

  • Court says gay employees can sue under 1964 Civil Rights Act

    Court says gay employees can sue under 1964 Civil Rights Act

    At the same time, they have been met with a wave of state laws created to protect the religious freedom of employers and others. LGBTQ advocates, citing legal precedent, say that what the original laws' authors believe or intended is irrelevant.

    Considerable uncertainty over Trump fiscal stimulus plans: Fed

    This judgement was based on the assumption that the economy performs as expected and that the Fed Funds rate continues to rise. Many economists have said they think rate increases will occur at the June and September meetings.
    Nickelodeon Is Making An 'Invader Zim' Movie

    Nickelodeon Is Making An 'Invader Zim' Movie

    Like lots of our favorite 1990s and early 2000s Nickelodeon shows, Invader Zim has retained a cult base of loyal fans. This movie will likely pick up where the series left off, letting Zim jumpstart one more plan to conquer Earth.
  • Death toll from Syria chemical attack rises to 75

    That was seen internationally as a major blow to US credibility and, for Obama's critics, a prime example of weak leadership. It pinned the "use of chemical and poisonous material" on rebel forces "to achieve their despicable goals and agendas".
    New York's top court rejects Facebook search warrant challenge

    New York's top court rejects Facebook search warrant challenge

    Join the Network World communities on Facebook and LinkedIn to comment on topics that are top of mind. The court ruled against Facebook 5-1, saying state criminal procedures do not authorize its appeal.
    SC  wins 1st national title, beats Miss St 67-55

    SC wins 1st national title, beats Miss St 67-55

    Unfortunately, their efforts did not allow CT to take the lead over Mississippi State for the remainder of the quarter. MISSISSIPPI STATE: The Bulldogs should have tournament hero Morgan William and athletic forward Victoria Vivians back.
  • Lionel Messi To Make Decision On Barcelona Future In May

    The game was as good as over in the 33rd minute when Messi scored his second of the evening and 43rd of the campaign. Karim Benzema continued his strong scoring form with a fourth goal in as many matches to keep Madrid atop the table.
    United Nations  chief arrives in Baghdad for talks with Iraqi leaders

    United Nations chief arrives in Baghdad for talks with Iraqi leaders

    In the first 37 days of the Iraqi offensive to take western Mosul , 284 Iraqi troops were killed and more than 1,600 were wounded. Widespread displacement is one, with Iraqi authorities saying that more than 200,000 people have fled west Mosul since February.
    Phil Schiller has lifted the lid on the new Mac Pro

    Phil Schiller has lifted the lid on the new Mac Pro

    But don't get too excited just yet, because as Schiller pointed out, "you won't see any of these products this year". But, as you already know, we'd suggest everyone wait for the coming Mac Pro, which will land sometime in 2018.
  • Potential of severe thunderstorms, tornadoes for Savannah; closings set

    A flash flood watch is in effect from 8 a.m. until late Wednesday night . A third round will develop this evening through 9 p.m.

    Raptors angered by Lance Stephenson's last-second layup

    I understand that; we normally do that. "He's going to work hard, he's going to energize you". That's how the Pacers came back from a 19-point deficit to keep hope alive.
    Boys threatened victim with dog attack if she tried to flee

    Boys threatened victim with dog attack if she tried to flee

    The teen was reported missing the afternoon of March 19 after she didn't return from a store in Chicago's Lawndale neighborhood. It was also recorded on cell phones, said police. "This is just a very traumatic incident", Deenihan told reporters.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.