Service Sector Contracts in March

[Stuart G]

Source: Yahoo News, AP


http://news.yahoo.com/s/ap/20080403/ap_on_bi_ge/economy_services


By EILEEN ALT POWELL, AP Business Writer 43 minutes ago
NEW YORK - The latest survey from the Institute for Supply Management trade group suggests that the service sector is still contracting.


The institute reported Thursday that its non-manufacturing index registered 49.6 in March, a slightly better reading than February's 49.3.
A reading below 50 indicates contraction, while a reading above 50 indicates growth.
It's the third consecutive month of contraction, but the March reading is a bit stronger than the 49.0 expected by analysts surveyed by Thomson/IFR.
Purchasing managers surveyed by the institute say they are especially worried about rising commodity prices.


Read more: http://news.yahoo.com/s/ap/20080403/ap_on_bi_ge/economy_services

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Third month in a row. Very bad.......