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US SERVICES SECTOR CONTRACTS IN MAY

  • NEWS Desk Global
  • Jun 4
  • 1 min read


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The U.S. services sector contracted for the first time in nearly a year in May while businesses paid higher prices for inputs, a reminder that the economy remains in danger of experiencing a period of very slow growth and high inflation.

The survey from the Institute for Supply Management (ISM) on Wednesday showed uncertainty was the dominant theme among businesses as they tried to navigate President Donald Trump's constantly shifting trade policy.

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