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MNI INTERVIEW:US Services Expect Growth Amid Darker Clouds-ISM

(MNI) Washington

Supply chains improving but firms not happy with the slow pace, ISM's Anthony Nieves said.

The outlook for U.S. services growth remains strong despite risks from inflation and the rising path for interest rates set by the Federal Reserve, Institute for Supply Management services survey chair Anthony Nieves told MNI Tuesday, adding that concerns about a recession late this year are overdone.

"We're still in good shape and we'll still see continued growth going forward. It won't be the big spikes that we saw last year, but we're not going to look at contraction anytime soon. If we do see some fall off, it'll probably be toward the latter part of the year if that even happens," he said.

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The outlook for U.S. services growth remains strong despite risks from inflation and the rising path for interest rates set by the Federal Reserve, Institute for Supply Management services survey chair Anthony Nieves told MNI Tuesday, adding that concerns about a recession late this year are overdone.

"We're still in good shape and we'll still see continued growth going forward. It won't be the big spikes that we saw last year, but we're not going to look at contraction anytime soon. If we do see some fall off, it'll probably be toward the latter part of the year if that even happens," he said.

Keep reading...Show less