US Service Sector Best in last 12 Years

US Service Sector Best in last 12 Years
US Service Sector Best in last 12 Years
US Service Sector Best in last 12 Years USA TODAY

The Institute for Supply Management reported today that US services companies in September expanded at the strongest rate in a dozen years as a measure for new orders climbed sharply.

In U.S. services sector improved at best pace in 12 years, survey says, an article appearing this morning in USA TODAY, Josh Boak of The Associated Press writes:

The gains point to a potentially faster economic growth — which could help to spur more hiring and stronger pay raises. The U.S. economy has gone through a steady but slow recovery from the Great Recession that entered its ninth year this summer. The index suggests that Hurricanes Harvey and Irma disrupted many businesses without derailing overall growth.

"Very strong report, very surprising it came in at such as high level," said Anthony Nieves, chair of the ISM's non-manufacturing business survey committee. "Business conditions look good, even with the recent weather-related catastrophic events."

Will this be a further boost for the US economy, or has it already been priced into the market by savvy traders?

Read the source article at USA TODAY

 


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