Business activity in the US service sector unexpectedly fell in April

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In April, a slowdown in business activity was recorded in the US services sector. According to the Institute for Supply Management ISM, processing the data of US companies representing 62 segments of the service sector, the corresponding index was 55.1 points, having decreased from the March value of 56.1 points. The decrease in the index to its lowest level since August 2017 came as a surprise to the experts, since they had expected it to rise to 57 points. The indicator, which determines the status of new orders of service companies, amounted to 58.1 points, dropping from 59 points in March. The employment rate fell to 53.7 points from 55.9 points. At the same time, the indicator characterizing entrepreneurial activity increased last month to 59.5 points from 57.4 points.

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