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.
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