Mumbai, May 6 -- In April, US service sector business activity growth was the slowest in nearly a year-and-a-half, according to the latest PMI data from S&P Global. Uncertainty over federal policies, especially trade, was reported to have limited demand growth and weighed on business expectations, which slumped to its lowest level for two-and-a-half years.
Meanwhile, tariffs were reported by firms to have been a key driver of higher operating expenses through a rise in supplier charges. Service providers increased their own selling prices in response, with inflation the strongest since January.
The S&P Global US Services PMI Business Activity Index remained above the critical 50.0 no-change mark in April to signal an increase in service s...