Service Economy Slowing???
NIMBY, Not in my backyard. Almost everyone I know is in the service business and they report that business is booming. Of course we are in Northeast Ohio and we tend to lag all trends, economic and otherwise.
Here is the latest from one analyst:
By PETER SVENSSON, The Associated Press via the San Francisco Examiner
The service sector of the U.S. economy expanded in May, but at a slower pace than in April, a private survey of supply managers said on Monday.
The report offered a possible indication that fuel prices are starting to crimp growth in the service sector, which accounts for two-thirds of the U.S. economy. The survey by the Institute for Supply Management indicated concern about the prices of raw materials and fuels.
The ISM index of non-manufacturing activity was 60.1 in May, down from 63 in April. The latest reading matched analysts' expectations.
A reading of 50 and above points to growth, while a figure below 50 signals contraction.
How is the service economy in your part of the world?
Uncategorized | admin | 05 June 2006 |
