US SERVICES SECTOR EXPANDS WITH HINTS OF RISING PRICE PRESSURES

The U.S. services sector's growth picked up in April, while a measure of prices paid by businesses for materials and services raced to the highest level in more than two years, signaling a building up in inflation pressures due to tariffs.

The Institute for Supply Management (ISM) survey on Monday showed services businesses were worried about the impact of President Donald Trump's tariffs on prices and deep federal spending cuts as his administration seeks to drastically shrink the government.

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