Services Sector Shrinks for the Sixth Consecutive Month

The NMI (Non-Manufacturing Index) registered 40.8% in March, 0.8 percentage point lower than the 41.6% registered in February, indicating contraction in the non-manufacturing sector for the sixth consecutive month at a slightly faster rate, the Institute for Supply Management said Friday.

The services sector represents about 80% of economic activity in the US. It includes banks, airlines, hotels and restaurants.

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