Strong Beat in March ISM Services PMI Sends Index To Record High 2021-04-05 14:00:00 Izaac Brook,
March ISM Services PMI & US Dollar Talking Points:
ISM Services PMI for March prints at 63.7 versus forecast of 59.0.
Print is Service Index’s highest since in ISM records dating back to 1997.
The DXY is notably weaker today but still remains strong in 2021. Advertisement
Strong Beat in March ISM Services PMI Sends Index To Record High
US services activity in March rose to a pandemic high as the March ISM Services PMI printed at 63.7, strongly exceeding the forecast of 59. The print is the ISM Services PMI’s highest on record since its component data began to be collected in 1997. In February, the Services PMI fell to its lowest level since May of 2020 as extreme weather prevented typical services activity. March’s resurgence reflects that February’s dip was not the beginning of a downtrend and instead shows co