Economic good news! Service industry up 10 percent to pre-recession levels
Service-related economic activity experienced a big uptick between September and October, rising 10.6 percent to a level higher than at any point in 2008 or 2009.
Non-manufacturing business activity (blue line), which represents primarily the service industry, increased 10.61 percent between September and October, the biggest one-month change (pink bars) in over a year. When compared to the previous year (aqua area), October 2010 activity was up by over 8 percent.
SoldAtTheTop / The Paper Economy
Yesterday, the Institute for Supply Management released their latest Non-Manufacturing Report on Business indicating that service related economic activity continued to expand with a notable tick up in business activity in October.
At 58.40 the business activity index improved increasing 10.61% since September and rising 8.15% above the level seen a year earlier.
Add/view comments on this post.
------------------------------
The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.