Service side of the U.S. economy crashes in April to recession levels, ISM shows

The massive losses suffered by retailers, restaurants, hotels, airlines and other service-oriented companies from the coronavirus cause a key economic bellwether to plunge in April to the lowest level since the 2007-2009 Great Recession. The ISMs survey of non-manufacturing companies plummeted to 41.8% in April from 52.5% in March.