U.S. business activity growth slowed to its weakest pace in nearly a year in March as the war with Iran sent energy prices surging and rattled consumer and business confidence, according to a closely watched survey released Tuesday.
The S&P Global flash U.S. Composite PMI Output Index fell to 51.4 in March from 51.9 in February, the lowest reading since April 2025. Figures above 50 indicate expansion, meaning the economy is still growing — but at its slowest pace in three consecutive quarters, rounding off the weakest quarter for the U.S. economy since the fourth quarter of 2023.
The slowdown was concentrated in services, where business…
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