S&P Global's Services PMI Shows First Contraction in More Than Three Years

Dow Jones04-03 23:34

By Anthony Harrup

The U.S. services economy posted its first contraction in more than three years at the end of the first quarter as a rise in energy prices brought on by the war in the Middle East eroded confidence, S&P Global said Friday.

S&P Global's purchasing managers index for services providers fell to 49.8 points in March from 51.7 in February, its first contractionary reading since January 2023, and down from the earlier flash estimate of 51.1. Readings below 50 point to contraction, above 50 indicates expansion.

"Confidence in the outlook weakened against a backdrop of rising cost pressures as a surge in energy prices following the outbreak of war in the Middle East cast a shadow over the sector," S&P Global said. Firms said the negative effect of the war on sentiment added to the adverse impact of trade tariffs.

"Clearly much depends on the duration of the conflict," said Chris Williamson, chief business economist at S&P Global Market Intelligence. The fact business confidence dipped but didn't slump "is a sign that businesses are hopeful of a swift resolution to the war."

There remains a concern, however, that energy disruption may last beyond the actual conflict and test the resilience of businesses and households in the coming months, he added.

Write to Anthony Harrup at anthony.harrup@wsj.com

(END) Dow Jones Newswires

April 03, 2026 11:34 ET (15:34 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2624572665?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-04-03 23:34","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2624572665","market":"us","top_or_hot":-1,"title":"S&P Global's Services PMI Shows First Contraction in More Than Three Years","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Anthony Harrup \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  The U.S. services economy posted its first contraction in more than three years at the end of the first quarter as a rise in energy prices brought on by the war in the Middle East eroded confidence, S&amp;P Global said Friday. \n</p>\n<p>\n  S&amp;P Global's purchasing managers index for services providers fell to 49.8 points in March from 51.7 in February, its first contractionary reading since January 2023, and down from the earlier flash estimate of  51.1. Readings below 50 point to contraction, above 50 indicates expansion. \n</p>\n<p>\n  \"Confidence in the outlook weakened against a backdrop of rising cost pressures as a surge in energy prices following the outbreak of war in the Middle East cast a shadow over the sector,\" S&amp;P Global said. Firms said the negative effect of the war on sentiment added to the adverse impact of trade tariffs. \n</p>\n<p>\n  \"Clearly much depends on the duration of the conflict,\" said Chris Williamson, chief business economist at S&amp;P Global Market Intelligence. The fact business confidence dipped but didn't slump \"is a sign that businesses are hopeful of a swift resolution to the war.\" \n</p>\n<p>\n  There remains a concern, however, that energy disruption may last beyond the actual conflict and test the resilience of businesses and households in the coming months, he added. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Anthony Harrup at anthony.harrup@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 03, 2026 11:34 ET (15:34 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P Global's Services PMI Shows First Contraction in More Than Three Years</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P Global's Services PMI Shows First Contraction in More Than Three Years\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-04-03 23:34</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Anthony Harrup \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  The U.S. services economy posted its first contraction in more than three years at the end of the first quarter as a rise in energy prices brought on by the war in the Middle East eroded confidence, S&amp;P Global said Friday. \n</p>\n<p>\n  S&amp;P Global's purchasing managers index for services providers fell to 49.8 points in March from 51.7 in February, its first contractionary reading since January 2023, and down from the earlier flash estimate of  51.1. Readings below 50 point to contraction, above 50 indicates expansion. \n</p>\n<p>\n  \"Confidence in the outlook weakened against a backdrop of rising cost pressures as a surge in energy prices following the outbreak of war in the Middle East cast a shadow over the sector,\" S&amp;P Global said. Firms said the negative effect of the war on sentiment added to the adverse impact of trade tariffs. \n</p>\n<p>\n  \"Clearly much depends on the duration of the conflict,\" said Chris Williamson, chief business economist at S&amp;P Global Market Intelligence. The fact business confidence dipped but didn't slump \"is a sign that businesses are hopeful of a swift resolution to the war.\" \n</p>\n<p>\n  There remains a concern, however, that energy disruption may last beyond the actual conflict and test the resilience of businesses and households in the coming months, he added. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Anthony Harrup at anthony.harrup@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 03, 2026 11:34 ET (15:34 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1989764748.USD","symbol_name":"东方汇理环球颠覆性机遇A2 Acc","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2624572665","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2624572665","pubTimestamp":1775230440,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"The U.S. services economy posted its first contraction in more than three years at the end of the first quarter as a rise in energy prices brought on by the war in the Middle East eroded confidence, S&P Global said Friday.S&P Global's purchasing managers index for services providers fell to 49.8 points in March from 51.7 in February, its first contractionary reading since January 2023, and down from the earlier flash estimate of  51.1. Readings below 50 point to contraction, above 50 indicates expansion.\"Confidence in the outlook weakened against a backdrop of rising cost pressures as a surge in energy prices following the outbreak of war in the Middle East cast a shadow over the sector,\" S&P Global said. Firms said the negative effect of the war on sentiment added to the adverse impact of trade tariffs.\"Clearly much depends on the duration of the conflict,\" said Chris Williamson, chief business economist at S&P Global Market Intelligence. The fact business confidence dipped but didn't","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1989764748.USD":"东方汇理环球颠覆性机遇A2 Acc","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","LU2506952170.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (USDHDG) INC","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","LU2210149790.SGD":"Natixis Thematics Subscription Economy R/A SGD-H","LU0985320562.USD":"NORDEA 1 GLOBAL STARS EQUITY \"BP\" (USD) ACC","LU0971096721.USD":"富达环球金融服务 A","LU0823417653.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) ACC","LU0342679015.USD":"ALLIANZ GLOBAL EQUITY UNCONSTRAINED \"AT\" (USD) ACC","LU0094547139.USD":"abrdn SICAV I - GLOBAL SUSTAINABLE EQUITY FUND \"A\" (USD) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","BK4112":"金融交易所和数据","BK4548":"巴美列捷福持仓","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","LU2764262908.HKD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (HKD) ACC","SPGI":"标普全球","LU0097036916.USD":"贝莱德美国增长A2 USD","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","LU0345774391.USD":"NINETY ONE GSF AMERICAN FRANCHISE \"A\" (USD) ACC","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","LU2271345857.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AT\" (HKD) ACC","BK4581":"高盛持仓","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU2764263039.SGD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (SGDHDG) ACC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU1633808545.USD":"ALLIANZ GLOBAL EQUITY GROWTH \"AT\" (USD) ACC","LU2506951875.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) ACC","BK4566":"资本集团","LU0354030511.USD":"ALLSPRING  U.S. LARGE CAP GROWTH \"I\" (USD) ACC","LU2111349929.HKD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (HKD) INC","LU2023251221.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"AM\" (USD) INC","LU2764263203.CNY":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (CNYHDG) ACC","LU2506952097.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (USDHDG) ACC","BK4534":"瑞士信贷持仓","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","LU0354030438.USD":"富国美国大盘成长基金Cl A Acc","LU0823417737.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) INC","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU2506951958.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) INC","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","LU0950375773.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) INC A","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU2210150020.SGD":"Natixis Thematics Subscription Economy R/A SGD"},"translate_title":"标普全球服务业PMI显示三年多来首次收缩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SPGI":1.5},"content_text":"By Anthony Harrup \n\n\n \n\n\n  The U.S. services economy posted its first contraction in more than three years at the end of the first quarter as a rise in energy prices brought on by the war in the Middle East eroded confidence, S&P Global said Friday. \n\n\n  S&P Global's purchasing managers index for services providers fell to 49.8 points in March from 51.7 in February, its first contractionary reading since January 2023, and down from the earlier flash estimate of  51.1. Readings below 50 point to contraction, above 50 indicates expansion. \n\n\n  \"Confidence in the outlook weakened against a backdrop of rising cost pressures as a surge in energy prices following the outbreak of war in the Middle East cast a shadow over the sector,\" S&P Global said. Firms said the negative effect of the war on sentiment added to the adverse impact of trade tariffs. \n\n\n  \"Clearly much depends on the duration of the conflict,\" said Chris Williamson, chief business economist at S&P Global Market Intelligence. The fact business confidence dipped but didn't slump \"is a sign that businesses are hopeful of a swift resolution to the war.\" \n\n\n  There remains a concern, however, that energy disruption may last beyond the actual conflict and test the resilience of businesses and households in the coming months, he added. \n\n\n \n\n\n  Write to Anthony Harrup at anthony.harrup@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 03, 2026 11:34 ET (15:34 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.39.0","shortVersion":"4.39.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2624572665","isCrawlerRequest":true}