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VOL. 42 | NO. 5 | Friday, February 02, 2018

US services firms record strongest performance since 2005

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WASHINGTON (AP) — The U.S. services sector boomed in January, registering the best performance since 2005 and delivering more evidence of American economic strength.

The Institute for Supply Management, a trade group of purchasing managers, says its services index hit 59.9 last month, up from 56 in December and the highest since it reached 61.3 in August 2005. Anything above 50 signals that the sector is expanding. The services sector is now on a 96-month winning streak.

Production, new orders, hiring and new export orders all grew faster in January.

Fifteen services industries reported growth in January, led by management firms and entertainment companies. Just three contracted, led by information companies.

Private services companies dominate the U.S. economy, accounting for 71 percent of American jobs.

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TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0