BELGRADE, Serbia (AP) — Several thousand people have surrounded Serbia’s state TV building during anti-government protests requesting more media freedom in the Balkan country. The...
US services firms record strongest performance since 2005
Economy & Business By: The Bullet Wire February 5th, 2018 8:01 am
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, said Monday that 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.
Anthony Nieves, chair of the ISM’s services index committee, said the strong January performance reflects improving business and consumer confidence and a strengthening global economy. A massive tax-cut bill that became law in December may also be helping.
“The tax changes have definitely promoted some activity (in) new orders,” Nieves said.
The U.S. economy is looking healthy. The Labor Department reported Friday that employers added 200,000 jobs in January and that wages grew at the fastest pace in eight years. Unemployment remains at a 17-year low 4.1 percent.
Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Featured & Breaking
UGHELLI, Nigeria (AP) — Heavy military deployment, scattered attacks on polling centers and at least eight deaths were reported on Saturday as Nigerians went to...
MINSK, Belarus (AP) — Ukrainian police said 15 officers were injured Saturday in a clash with far-right demonstrators who disrupted a campaign appearance of President...
LONDON (AP) — With tensions escalating, Britain’s House of Commons leader said Saturday that European Union officials need to take seriously British proposals for ending...
"Unless you believe we’re governed by shape-shifting space lizards — your darkest suspicions about how the world operates are likely an underestimate."
(The Intercept)- AS I READ The Devil’s Chessboard: Allen Dulles, the CIA, and the Rise of America’s Secret Government, a new book by Salon founder David...