- Business activity in the US private sector continued to expand in March.
- The dollar index clings to small daily profits above 104.00.
Economic activity in the US private sector expanded at an accelerated pace in March, with the PMI composed of global S&P rising to 53.5 (preliminary) from 51.6 in February.
In the same period, the PMI manufacturing fell to 49.8 from 52.7, being below the market expectation of 51.9. In a positive note, the PMI of Services rose to 54.3 from 51.
Commenting on the findings of the survey, “a welcome rebound in the activity of the services sector in March has helped boost a stronger economic growth at the end of the first quarter,” said Chris Williamson, head economist of Business in S&P Global Market Intelligence.
“However, the survey data is indicative that the economy grew at an annualized rate of 1.9% in March and only 1.5% during the quarter as a whole, which points to a slowdown in GDP growth compared to the late 2024,” Williamson added.
Market reaction
The DXY dollar index rose with the immediate reaction to the PMI data and was lastly increasing 0.1% in the day to 104.25.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
