5 April 2001, 12:06  The rate of expansion in the U.S. non-manufacturing sector fell

The rate of expansion in the U.S. non-manufacturing sector fell modestly in March and sector employment contracted for the first time in the survey's four-year history, according to Ralph Kauffman, chair of 74%modestly in March and sector employment contracted for the first time in the survey's four-year history, according to Ralph Kauffman, chair of the National Association of Purchasing Management's non-manufacturing survey. "The March data could imply we are at a bottom ... with the sector continuing its long-term growth trend at a decreased rate. We see in employment, which is a lagging indicator, the index below 50 for the first time ever, indicating an ongoing reduction in workers," Kauffman told reporters after the release of non-manufacturing data Wednesday.

© 1999-2024 Forex EuroClub
All rights reserved