Source for the above chart. How BusinessInsider covers the same data below.
"Service sector activity growth reflected robust new business gains in October," Markit noted. "Reports from survey respondents suggested that improving underlying demand and strengthening domestic economic conditions had supported sales volumes. However, the latest expansion of overall new business intakes was slower than the three-month high recorded in September."
For the past few months I've been reading articles about how the service sector has been slowing. Though you wouldn't know it if you listen to the news very much. Because everything is great. Just great. So I had to find a chart to show just how "robust" things are. Oh, and there is this article from last month that said this:
"WASHINGTON (AP) — Two days before the government's much-anticipated jobs report, a snapshot of employment trends in the service sector flashed an ominous sign.
Hotels, restaurants, banks and other service companies, which employ 90 percent of Americans, reduced the size of their work forces in September, according to a survey of purchasing managers conducted by the Institute of Supply Management.". Read more here.
But just ignore it because did I mention how great things are?
No comments:
Post a Comment