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flag U.S. service sector growth slowed as oil prices surged due to Middle East conflict.

flag The U.S. services sector grew more slowly in March, with the ISM index dropping to 54.0, though prices paid surged to the highest level in over 13 years. flag This increase was driven by the ongoing conflict in the Middle East, which spiked oil prices and pushed the national average for gasoline above $4 a gallon. flag While new orders remained strong, these inflationary pressures have raised concerns about the Federal Reserve holding interest rates steady.

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