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U.S. Services PMI Drops, Heightening Recession Fears

4/3/2025

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Summary

Story summary

The U.S. services sector's PMI fell to 50.8 in March, signaling slowed growth amid tariff uncertainties.
Employment dropped to 46.2, marking the lowest level since December 2023, as companies cut staff.
New orders decreased to 50.4, with rising inflation concerns affecting consumer and business confidence.
Q1 economic growth estimates are below 0.5%, heightening recession fears due to strained supply chains.

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Story summary

The U.S. services sector's PMI fell to 50.8 in March, signaling slowed growth amid tariff uncertainties.
Employment dropped to 46.2, marking the lowest level since December 2023, as companies cut staff.
New orders decreased to 50.4, with rising inflation concerns affecting consumer and business confidence.
Q1 economic growth estimates are below 0.5%, heightening recession fears due to strained supply chains.