U.S. Services Activity Hits All-Time High in March

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Activity in the U.S. services sector hit an all-time high in March as more corners of the economy saw a sudden uptick after months of coronavirus restrictions, a report said Monday.

The Institute for Supply Management's purchasing managers index hit 63.7, up from 55.3 the prior month, according to a statement. Despite the positive reading, the ISM pointed to increased logistical problems and labor shortfalls that could crimp the recovery.