US DATA: March ISM Non-Mfg text: “Economic activity..

US DATA: March ISM Non-Mfg text: “Economic activity in the
non-manufacturing sector grew in March for the 27th consecutive month.
The NMI registered 56 percent in March, 1.3 percentage points lower than
the 57.3 percent registered in February, and indicating continued growth
at a slower rate in the non-manufacturing sector. New Orders Index
decreased by 2.4 percentage points to 58.8 percent, and the Employment
Index increased by 1 percentage point to 56.7 percent, indicating
continued growth in employment at a slightly faster rate. The Prices
Index decreased 4.5 percentage points to 63.9 percent, indicating prices
increased at a slower rate in March when compared to February. According
to the NMI, 16 non-manufacturing industries reported growth in March.
Respondents’ comments remain mostly optimistic about business
conditions. They indicate that increased discretionary spending reflects
the increased confidence level of businesses and consumers. There is
continued concern about cost pressures & instability of fuel prices.”