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Tuesday, April 6, 2021
Jobs growth soars, service activity hits a record, and it is still only April.
And the days of realizing this growth are just beginning.
On Monday, data from IHS Markit and the Institute for Supply Management on activity in the services sector blew the doors off analyst expectations as the ISM’s activity index surged to a record high. IHS Markit’s reading was the best in seven years.
“The Services PMI registered an all-time high of 63.7%, 8.4 percentage points higher than the February reading of 55.3 percent,” said Anthony Nieves, chair of the ISM’s services business survey committee. “The previous high was in October 2018, when the Services PMI…