The US services sector beat expectations in April
The US Institute for Supply Management (ISM) survey showed that the services PMI in the United States rose to 51.9 points in April, compared to 51.2 points in March. Analysts had expected that the services sector, which accounts for more than two-thirds of the US economy, would rise to 51.8 points in April. The measure of new orders rose to 56.1 points in April, compared to 52.2 points in March, and the measure of prices paid by service companies for inputs rose to 59.6 points in April, compared to 59.5 points in March.
And companies operating in the professional, scientific and technical services industry reported that they are on the right track to witness significant growth in production until 2023 as well as 2024 and 2025, and retailers described business trends as stable in the year so far. Finance and insurance companies also described business conditions as stable, adding that they are preparing For planned expansion in the third quarter