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U.s. Service Sector Shows Surprising Weakness In July

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Service Sector Shows Surprising Weakness in July

Published: Wednesday, 5 Aug 2009 | 10:16 AM ET Text Size By: Reuters

The U.S. service sector contracted in July at a faster pace than in June, according to a report released Wednesday.

The Institute for Supply Management's services index fell to 46.4 last month from 47.0 in June, below economists' median forecast for a rise to 48.0. The dividing line between growth and contraction is 50.

The services sector represents about 80 percent of U.S. economic activity, including businesses such as banks, airlines, hotels and restaurants.

http://www.cnbc.com/id/32296019

Oh deary me.

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Still "just noise" seems excessive.

You seem to only focus on the negative, always.

Balancing the green shoots hype abounding all over the place then.

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Still "just noise" seems excessive.

You seem to only focus on the negative, always.

I focus on what is most significant. An increasing contraction in a sector that represents 80% of the economy is significant in my book.

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Balancing the green shoots hype abounding all over the place then.

two wrongs don't make a right, as they say

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Me thinks u missing the point. Your table shows US having around 2 $trillion in manufacturing. But 2008 US GDP was of around 15 $trillion IIRC.

The U.S. definition of manufacturing was changed a few years ago.

Now it includes, for example, burger flipping as manufacturing.

edit spellling

Edited by wren

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I focus on what is most significant. An increasing contraction in a sector that represents 80% of the economy is significant in my book.

Still no Jordon stories I see from you? :P

All the spin about green shoots and yet the economy still doesn't want to be positive.

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two wrongs don't make a right, as they say

Maybe so, but it helps. Otherwise you would be the naive prisoner in the quintaessential prisoner's dilemma.

Edited by Old_Traveller

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The U.S. definition of manufacturing was changed a few years ago.

Now it includes, for example, burger flipping as manufacturing.

edit spellling

Ah, so that would suggest people favouring good old McDo above fancier restaurants? make sense to me.

Edited by Old_Traveller

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