Services in the US economy expand more than expected
Posted by Stephen Cline on March 4th, 2010The US economy is going through one of its all time worst phases after World War II. There is a lot of gloom all around as people are looking for signs of revival and the signals are all mixed. On one hand, there are reports that the manufacturing sector is rebounding, whereas the unemployment rate is at an all-time high of close to 10%. Now there are reports that service industries have picked up pace at a rate faster than anticipated in the month of February. This has raised hopes that the economy would rebound, and there might be an increase in the rate of jobs creation too.
The factory sector in the US economy has led the charge and is now having a cascading effect on the service sector too. There are some experts who are witnessing healthy signs of a broader recovery. This would have a good effect on the phenomenon of job creation and resurgence in the economy. This has had a good effect even on stocks, which have all risen, on the back of all this encouraging data that is emerging from various sections of the US economy. While the European economy may still be in the woods, the US economy seems to be stabilizing after more than 2 years of turmoil.
Tags: Services, US economy