The US private sector services economy experienced a contraction of activity at the end of the first quarter of 2026, according to March PMI® survey data from S&P Global. It was the first decline recorded in over three years amid the weakest rise in new work since April 2024. Confidence in the outlook weakened against a backdrop of rising cost pressures as a surge in energy prices following the outbreak of war in the Middle East cast a shadow over the sector. Employment numbers fell fractionally amid an uncertain outlook. The headline S&P Global US Services PMI® Business Activity Index recorded 49.8 in March, down ... (full story)