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MNI INTERVIEW: Prices Top Challenge For Services -ISM Chief

(MNI) Washington

Labor supply not keeping up service employers' needs, ISM's Anthony Nieves tells MNI.

Elevated prices remain the top challenge to the U.S. services sector, but should fall quickly over the next quarter, Institute for Supply Management services chair Anthony Nieves told MNI Wednesday.

"I think we can start to see the prices index fall to the 70s because, one, we're starting to see fuel prices decline, and also consumer demand has waned just a little bit," Nieves said. "I wouldn't be surprised over the next quarter or so to see" the index fall to the 50s or 60s, he said.

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Elevated prices remain the top challenge to the U.S. services sector, but should fall quickly over the next quarter, Institute for Supply Management services chair Anthony Nieves told MNI Wednesday.

"I think we can start to see the prices index fall to the 70s because, one, we're starting to see fuel prices decline, and also consumer demand has waned just a little bit," Nieves said. "I wouldn't be surprised over the next quarter or so to see" the index fall to the 50s or 60s, he said.

Keep reading...Show less