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U.S. flash PMI index falls in March, but output growth remains strong

The seasonally adjusted IHS Markit Flash Services PMI Business Activity Index for the U.S. fell in the month of March. The index dropped from February’s six-month high of 55.9 to 54.1 However, the latest reading is well above the neutral value, hinting at a strong growth of the service sector output.

Service providers saw another solid rise in new business in March, with the pace of growth holding close to February’s near three-year high. Greater workloads aided in supporting the strongest job creation since September 2015.

March data indicated towards a strong rise in average cost burdens, although the pace of inflation was weaker than the 32-month peak seen in February. Mirroring the trend for operating expenses, average prices charged by service sector firms rose at a bit slower pace than in the earlier month.

At 21:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at 34.7761. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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