The reading for the report’s key indicator—the Services PMI (formerly the Non-Manufacturing PMI)—came in at 62.7 (a reading of 50 or higher indicates growth is occurring) in April. This marks a 1.0% decline from March’s 63.7, which was the highest reading since October 2018’s 60.9, and marks the eleventh consecutive month of services sector growth, at a slower rate. Services sector growth has seen gains in 133 of the last 135 months.
Source: logistics Mgmt
Despite small decline, Services economy remained strong in April, reports ISM
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