PAID INDEX FELL TO 60.5 IN MARCH FROM 64.8 IN FEBRUARY, WHILE THE JOBS COMPONENT FELL TO 54.6 FROM 58.2, AND NEW ORDERS ROSE TO 59.5 FROM 56.2. 'THE MARKET WAS LOOKING FOR CONFIRMATION THAT THERE MIGHT BE A BROAD SLOWING OF THE ECONOMY UNDER WAY, BUT THE DATA DID NOT REINFORCE THAT VIEW,' SAID TONY CRESCENZI, CHIEF BOND MARKET STRATEGIST AT MILLER TABAK CO. 'IN FACT, IT SUGGESTED THE SLOWDOWN SEEN IN MANUFACTURING WAS ISOLATED TO THAT SECTOR ALONE.' THE ISM ALSO POINTED TO SIGNS OF STRONGER GLOBAL DEMAND, WITH EXPORT ORDERS REACHING THE HIGHEST LEVEL IN THE ALMOST 10-YEAR HISTORY OF THE SURVEY. WHILE THE REPORT DID SHOW A DIP IN EMPLOYMENT IN MARCH, THE LABOR MARKET IS 'TIGHT IN SPECIALIZED AREAS THAT REQUIRE SOME TYPE OF SPECIALIZED TRAINING OR EXPERIENCE,' SAID RALPH KAUFFMAN, CHAIR OF ISM'S NON-MANUFACTURING SERVICES INDEX. --SP 23 48 LOCAL TIME 20 48 GMT
