Weekly Economic Update For Investors
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Published Friday, January 7, 2022 at: 7:29 PM EST
The index of purchasing activity at large manufacturers fell in December but remains not far from its record high, as did much the more important index of purchasing activity at large service companies. Services account for 89% of U.S. economic growth, while manufacturing accounts for 11%, and about 90% of jobs in the U.S. are created by the service sector. The purchasing managers indexes, which are based on monthly surveys conducted by the Institute of Supply Management, are designed to slump to less than 50 before a recession. The manufacturing purchasing index has decades of history. It’s been a good forward-looking indicator...
This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation. Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.
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Weekly Economic Update For Investors
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