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The Institute for Supply Management said its
services index fell to 56.5 last month from 56.9 in February.
The reading was in line with economists' forecasts, according to
a Reuters survey.
The March reading was the lowest since a matching reading last
December. A reading above 50 indicates expansion in the sector.
The exports index rose, however, to 59.0 from 53.0 in February
to mark the highest reading since February 2013. The employment
index also rose, hitting its highest level since last October,
with the reading coming in at 56.6 compared with 56.4 in
February.
Its index of business activity fell, meanwhile, to 57.5 in March
from 59.4 in February and marking the lowest reading in a year.
The rise in the exports index came despite the U.S. dollar's
surge against a basket of major currencies of more than 20
percent since last May. A strong dollar typically crimps demand
for U.S exports and reduces the value of overseas sales when
they are translated back into U.S. dollars.
(Reporting by Sam Forgione; Editing by Chizu Nomiyama)
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