US service-sector activity suffered a minor setback last month but is still close to a 15-month high.
The Institute for Supply Management, formerly known as NAPM, yesterday said its index of non-manufacturing business activity for March fell to 57.3 from 58.7 in February, but the number is still the second-highest reading since November 2000.
In February, the index capped the 50 threshold, indicating a shift from contraction to expansion. The data are based on a survey of more than 350 US executives in retail, medical care, real estate, entertainment and other non-manufacturing businesses.
Of the 17 sectors included in the survey, 10 reported increased activity in March, five posted decreases and two were unchanged.
