U.S. Services PMI Falls to 49.8, Contraction

U.S. Services PMI slipped to 49.8 in April, below the 51.1 forecast and under the 50 expansion threshold.
The index fell from 51.7 in March, indicating a shift from modest growth to contraction in the service sector.
Economists warn the weaker reading may pressure the U.S. dollar and influence Fed policy amid ongoing supply‑chain and demand headwinds.