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US SERVICE SECTOR COOLS IN MARCH, INFLATION HEATING UP AMID IRAN WAR

  • NEWS Desk Global
  • 50 minutes ago
  • 1 min read

U.S. services sector growth slowed in March, while prices paid by businesses for inputs increased by the most in more than 13 years, an early indication that the prolonged war with Iran ​was boosting inflation pressures.

The Institute for Supply Management survey on Monday also showed services employment dropping to the lowest level since the end of 2023, which probably understates the health ‌of the labor market as government data last Friday showed a sharp rebound in job growth.

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