Thursday, December 03, 2009
Services maintain the slightly softer tone
Posted by David Smith at 09:45 AM
Category: Thoughts and responses

Though the service sector is still firmly in expansionary territory, its purchasing managers' index slipped from 56.9 to 56.6 in November. That is consistent with a healthy rate of expansion (levels above 50 show this) and supports the idea that the economy as a whole is growing again. But growth is not racing away. The good news was that job losses in services fell to a 14-month low.