U.S. Service Sector Growth Slows in March on Cooling Demand and Persistent Worker Shortages

U.S. services industry growth slowed further in March, with non-manufacturing PMI falling to 51.4 from 52.6 in February
Prices paid by services businesses for inputs dropped to a 4-year low of 53.4, indicating easing inflation pressures
New orders and production in the services sector expanded but at a slower pace than February
Faster supplier deliveries contributed to the decline in the services PMI
The services sector added jobs in March but employment levels remain depressed by worker shortages and some layoffs