24/7 Newsfeed

Put Reason 24/7 on Your Site

RSS

Follow Reason 24/7 on Twitter and via RSS

U.S. Economy Loses Steam

The vast majority of U.S. businesses expanded at a slower pace, and private-sector firms hired less, adding to earlier warnings the economy is losing momentum.

The Institute for Supply Management said Wednesday its nonmanufacturing index fell to a seven-month low of 54.4 in March from 56 in February, indicating activity cooled off. Analysts expected it to remain steady. The report saw sharp decelerations in jobs, orders and exports.

ISM's factory gauge out Monday also showed slowing growth .

Source: Investors Business Daily. Read full article. (link)

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.

advertisement