The Institute for Supply Management said Tuesday that its headline index for the service sector rose to 54.5% in March from 53.4% in February .
Consensus estimates compiled by news organizations called for the index to be somewhere around 54.0% to 54.5%.
Readings above 50% in such diffusion indexes are seen as a sign of economic growth, and vice-versa. The farther an indicator is above or below 50%, the greater or smaller the rate of change.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.