FILE PHOTO: An assembly line worker works on the production line at Midwest Automotive Designs in Bristol, Indiana, U.S., April 16, 2019. REUTERS/Tim Aeppel/File Photo
The IHS Markit flash services sector Purchasing Managers’ Index dropped to 49.4 this month, the lowest since October 2013 and signaling that a sector accounting for roughly two-thirds of the U.S. economy was in contraction for the first time since 2016. The services sector new business index dropped to 49.7, the lowest since October 2009, from 52.5 last month.
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