WASHINGTON (AP) — The U.S. services sector, which employs most Americans, recorded record growth in March as orders, hiring and prices all surged. The Institute for Supply Management, an association of purchasing managers, reported Monday that its nonmanufacturing index rose to an all-time high 63.7 last month from 55.3 in February. Anything above 50 signals growth, and the services sector is on a 10-month winning streak since rebounding from the economic impact of the coronavirus last spring. The reading was much higher than economists had expected. Although debate on economic policy often focuses on manufacturing, services — such as banks, retailers and restaurants — account for 71% of all U.S. jobs and 83% of private jobs.
