Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, stated: The encouraging turnaround in the USA's service sector activity in March helped drive a stronger economy at the end of the first quarter. However, survey data indicates that the annualized growth rate of the USA's economy in March was 1.9%, and the annualized growth rate for the entire quarter was only 1.5%, suggesting that GDP growth has slowed compared to the end of 2024. Recent risks appear to be skewed to the downside as well. Similarly, reports indicate that part of the reason for the recovery in the service sector in March was that business began to rebound after severe weather conditions in January and February had suppressed economic activity in many states, which may be a temporary rebound. Business confidence in the outlook has also declined, further deteriorating from the optimism at the beginning of the year to one of the most pessimistic readings in the past three years, primarily due to increasing concerns about the negative impacts of recent policy measures from the new government. Fortunately, from the Federal Reserve's perspective, service sector inflation remains relatively low.