Mumbai, March 5 -- S&P Global's latest PMI survey indicates that growth in the US services sector slowed in February, although activity continued to expand overall. The headline US Services PMI Business Activity Index fell to 51.7 in February from 52.7 in January. While any reading above 50 signals growth, the latest figure points to only a modest increase in activity and marks the slowest pace of expansion in ten months. Despite the slowdown, the sector has now recorded growth for 37 consecutive months.
Business activity was partly affected by adverse weather conditions, which disrupted operations and sales. At the same time, new business continued to rise, extending the current period of expansion to 22 months, although the pace of growt...