US Service Sector Sees Strongest Growth Since 2022 Driven by Demand

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US Services Sector Surges to 2022 High on Strong Demand

A woman waits for a bus next to a "Now Hiring" sign from the United States Postal Service in Boston, Massachusetts, U.S., October 30, 2021. REUTERS/Brian Snyder

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CNBC TV18•04-03-2026, 22:33

US Services Sector Surges to 2022 High on Strong Demand

•The US service economy expanded in February at its fastest pace since mid-2022, driven by robust order growth and business activity.
•The Institute for Supply Management’s services index rose 2.3 points to 56.1, exceeding all economist projections.
•Healthier demand led to the firmest growth in services employment in a year, with US companies adding 63,000 jobs last month.
•New orders climbed to a more than one-year high of 58.6, and export demand also strengthened notably.
•Unlike manufacturing, inflationary pressures cooled at service providers, with the prices paid index falling to an almost one-year low.

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