Economic Report: The huge service side of the U.S. economy speeds up in March, ISM finds
The numbers: An ISM barometer of business conditions at service-oriented companies such as restaurants and theaters rose 1.8 points in March to 58.3%, rebounding from an omicron-induced slowdown.
Prices of supplies rose even faster, however, and indicated little relief from high inflation. Supply-chain bottlenecks also persisted.
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