ISM announced the service sector PMI data for March.
Accordingly, ISM service sector PMI data decreased by 1.2 points to 51.4 in March compared to the previous month.
Market expectations were for the index to be realized as 52.8 in this period.
The index, which recorded a three-month low and signaled a slowdown in growth in the service sector, was recorded as 52.6 in February.
The production index increased by 0.2 points on a monthly basis to 57.4 in March, while the index for new orders decreased by 1.7 points to 54.4. The employment index increased by 0.5 points to 48.5 in this period.
In this period, growth was recorded in 12 sub-sectors of the services sector, while 4 sectors recorded a decline. Mining, transportation and storage, real estate and renting and information were the sectors that recorded a decline.
Service sector PMI in line with expectations
On the other hand, S&P Global announced the final service sector PMI data for March.
Accordingly, service sector PMI data decreased by 0.6 points to 51.7 in March compared to the previous month.
Service sector PMI, which followed a course parallel to the leading data and recorded the lowest level in 3 months, was 52.3 in February.
The composite PMI, which covers manufacturing and services sectors, also decreased by 0.4 points to 52.1 in March compared to the previous month.
The leading data was announced as 52.2. Composite PMI was recorded as 52.5 in February.
An ISM and PMI reading above 50 points to expansion, while a reading below 50 points to contraction.
