U.S. March Service Sector Price Index Soars to New Highs Since October 2022

SmartContractAuditor · 2026-04-06T15:07:00+00:00

The U.S. service sector economy slowed in expansion in March, with employment declining by the largest margin since 2023, and input prices rising significantly. The ISM Services Price Index reached the largest increase in nearly 14 years. Due to the Iran conflict, companies faced cost pressures, and both employment and business activity indices showed notable declines.

SmartContractAuditor

2026-04-06 15:07:00

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Odaily Planet Daily News: U.S. service-sector economic expansion slowed in March, with employment falling at its steepest pace since 2023 and input prices rising sharply. According to data released on Monday, the Institute for Supply Management (ISM) services price index rose to 70.7, the highest level since October 2022. It increased by 7.7 percentage points from the previous month, the largest jump in nearly 14 years. The ISM services index fell by 2.1 percentage points to 54, mainly due to weak employment and slower growth in business activity.

Affected by the Iran war, energy and other input costs rose sharply, putting pressure on businesses. The services employment index dropped by 6.6 percentage points to 45.2, one of the largest monthly declines since the COVID-19 pandemic. The business activity index fell by 6 percentage points to 53.9, the largest drop since mid-2024. The supplier deliveries index rose to the highest level since October 2024. Growth in new orders for service providers was the strongest in more than three years. (Jin10)

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