Observations on the world today.

Wednesday, May 05, 2004

Let's Hear It For a Service Based Economy 

Yahoo! News - Services Growth Hits Record in April
A key reading of the giant U.S. services sector showed a surprising rise in April, hitting a new record and offering more evidence of economic revitalization, an industry survey showed on Wednesday.

The Institute for Supply Management's non-manufacturing index rose to 68.4 in April from 65.8 in March, above Wall Street estimates of a dip to 64.0.

A number above 50 indicates growth.

"This was yet another very impressive report from ISM," said Doug Porter, senior economist at BMO Nesbitt Burns in Toronto. "It was strong from top to bottom with nothing to quibble about on the growth front."
Here is the picture from the story:

Let's hear it for a service based economy!






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