The month of March saw the services sector in the U.S. registering a lower rate of growth when compared to the figures of February 2017. However, there was positive news from the business activity and hiring sectors. In the United States, the services industry covers a range of businesses from hair salons to medical visits to home buying.
In an independent survey aimed at preparing a report specifically on the services industry, it was felt that the uncertainty associated with the new government has played a role in the figures dipping below expectations.
The absolute uncertainty about the future of the health insurance law of the previous dispensation and the ambiguity about the new President’s policies on trade and immigration could also be driving the dip in services sector performance say some experts.
For 87 straight months on the trot, the service sector has expanded. But the uncertainty and the potential industry instability comes from the fact that employment reading is down in March from a fairly stable position in February. Business activity and production is also down from a rock solid position last month.