Friday, February 3, 2012

Service sector remains healthy



The January ISM service sector report also exceeded expectations, led by a huge (and perhaps suspect) gain in the employment index. Or perhaps it was just that the numbers reported in the past several months were depressed because everyone was afflicted with concerns that the Eurozone financial crisis was going to tip the U.S. economy into a double-dip recession, and now those concerns are fading. Either way, the picture that emerges is one of ongoing growth; not spectacular, but almost certainly not what you would expect if the economy were at the tipping point of another economic slump.

4 comments:

Squire said...

The Republicans are going to look like fools running on the economy.

Benjamin said...

The GOP always look like fools....they are imitative of the Dems in that regard....

Jobs strength lifts Nasdaq to 11-year high
Reuters - ‎25 minutes ago‎
By Rodrigo Campos | NEW YORK (Reuters) - A surge in hiring last month lifted US stocks on Friday, with the Nasdaq index hitting an 11-year high, as the data boosted hopes the world's largest economy has turned a corner.


An 11-year high on the NASDAQ. Maybe the long, long bear maker, now 12 years old, is finally concluding....

jpnmitchell said...

Hi Scott!

Any chance you could run some comparison for metrics regarding the current Recession recovery and the Great Depression recovery? I know the economies of today and then are substantially different, but it might be interesting to see (if the data is available) trends regarding employment, debt, spenditures and the like.

Thanks!
j-p

Dr William J McKibbin said...

World-class service skills are earning premium wages in today's economy -- no doubt!