Home CryptoBitcoin Biden is Mismanaging America’s Growth: Buy Bitcoin

Activity in the US services sector hit an all-time high in March, but the sudden surge in business stretched supply chains and lifted prices, a report said Monday. This is a strong argument for the acquisition of Bitcoin and other Crypto assets, Biden is not managing the boom created by Trump.

The Institute for Supply Management’s purchasing managers index hit 63.7, up from 55.3 the prior month, according to a statement. That reading tops the prior record in October 2018.

Both the business activity and new orders benchmarks hit records in March, while employment activity rose for the third straight month.

The report comes on the heels of last week’s blowout US jobs report for March, as well as an ISM survey in the manufacturing industry that also showed higher prices as activity rebounded.

“Optimism in higher education that Fall 2021 will be near normal with vaccinated students, employees and staff returning to their roles on campus,” an official in educational services told ISM.

“Business is picking up as mandated restrictions seem to be easing and spring is right around the corner,” said an official in the real estate, rental & leasing industry.

But the report was not without some warning signs.

Some companies told the ISM they were experiencing increased logistical problems and labor shortfalls that could crimp the recovery.

The report also said prices “increased in March and at a faster rate.” All 18 sectors surveyed experienced higher prices a strong indicator a move to Bitcoin is wise.

A construction sector official said the industry was faced with building material shortages, shipping delays at West Coast ports and a lack of supplies due to the Texas electricity crisis that curtailed petrochemical plant output.

“We have encountered the ‘perfect storm’ for building material shortages and price increases,” the official said.

Anthony Nieves, chair of the ISM’s survey committee, said labor shortages were acute in the food services and hotel industries, especially in states which had imposed aggressive Covid-19 restrictions but are now opening up.

“There’s just not the onboarding of workers fast enough,” Nieves said.

Still, Nieves said overall the survey constitutes “a very strong report.”

Will Compernolle, senior economist at FHN Financial, characterized the report as broadly positive.

“Producers in all services industries are reporting remarkable growth and optimism about the future,” Compernolle said, adding that the findings show “services companies are still adjusting to the increased demand.”

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.