The US services sector grew at a steady clip in February, with new orders and employment rising to more than one-year highs, suggesting the economy continued to expand in the first quarter.
The Institute for Supply Management (ISM) survey on Friday described companies as “mostly positive about business conditions.” The survey added to robust consumer spending and labour market in suggesting the economy was not near a recession. But the economy’s resilience could see the Federal Reserve keep raising interest rates through midyear.
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