[U.S. March Services Price Index Surges to Highest Since October 2022] Odaily Planet Daily News – The U.S. services sector experienced slower expansion in March, with employment seeing its largest decline since 2023 and input prices rising sharply. According to data released on Monday, the U.S. Institute for Supply Management (ISM) Services Price Index rose to 70.7, the highest since October 2022, up 7.7 percentage points from the previous month, marking the largest increase in nearly 14 years. The ISM Services Index fell by 2.1 percentage points to 54, primarily due to weak employment and slower business activity growth. Impacted by the Iran war, energy and other input costs surged significantly, putting pressure on businesses. The Services Employment Index dropped 6.6 percentage points to 45.2, one of the largest monthly declines since the COVID-19 pandemic. The Business Activity Index fell 6 percentage points to 53.9, the largest decline since mid-2024. The Supplier Deliveries Index rose to its highest level since October 2024. Growth in new orders for service providers was the strongest in more than three years. (Jin10)