The ISM Services PMI fell -2.7 pts to 50.8 in March, below expectations of a minor decline to 53.0.

• Business Activity improved 1.5 pts to 55.9, but the New Orders index fell -1.8 pts to 50.4, suggesting demand growth was basically flat.
• Employment dropped -7.7 pts to 46.2, signaling a moderate decline in staffing numbers.
• The Price index fell -1.7 pts to 60.9, remaining above 60 for the fourth straight month.
• The New Export Orders index dropped -6.3 pts to 45.8, the first contraction in four months. Many respondents pointed to a tariffs as an issue impacting them.