Service industries sustain pace of growth in March

Washington

SERVICE industries in the US grew in March at about the same pace as a month earlier, indicating the biggest part of the country's economy is holding up.

The Institute for Supply Management's (ISM) non-manufacturing index cooled to 56.5 from the prior month's 56.9, the Tempe, Arizona-based group said on Monday. A gauge above 50 shows expansion and the March reading matched the median estimate in a Bloomberg survey of economists.

Orders accelerated in March and employment kept expanding, signalling growth will probably strengthen after a first-quarter pullback that took a toll on manufacturing. Consumers, who have had success finding jobs, are helping fuel sales at ind…