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- U.S. services sector activity expands more than initially estimated in April - IHS Markit
U.S. services sector activity expands more than initially estimated in April - IHS Markit
The
latest report by IHS Markit revealed on Wednesday the seasonally adjusted final
IHS Markit U.S. Services Business Activity Index (PMI) stood at 64.7 in April,
up from 60.4 in March and higher than the earlier released “flash” estimate of 63.1.
The latest reading pointed to the fastest expansion of business activity across
the U.S. service sector since data collection began in late-2009.
Economists
had forecast the index to stay unrevised at 63.1.
According
to the report, firms linked the robust April upturn to stronger
client demand and a rise in new sales. Some companies, however, noted that
output has not yet recovered to pre-pandemic levels.
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