00:00It's Benzinga, bringing Wall Street to Main Street.
00:02U.S. services sector growth slowed in March as the ISM non-manufacturing PMI fell to 54.0
00:08from 56.1 in February, below the 54.9 estimate, according to Reuters. Prices paid by businesses
00:14rose 7.7 points to 70.7, the highest since October 2022, and the largest increase in
00:20more than 13 years. Employment dropped to the lowest level since December 2023.
00:24Businesses cited the U.S.-Israel war with Iran, higher oil prices, and tariff uncertainty as
00:29key pressures. New orders rose to a two-year high, but export growth slowed. Gasoline prices
00:34rose above $4 per gallon for the first time in nearly four years, and shipping disruptions
00:38through the Strait of Hormuz increased costs. The data shows slower growth with rising inflation
00:43pressures. For all things money, visit Benzinga.com.
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