A Key Signal Of Strength At A Pivotal Moment In Economic History

Published Friday, September 9, 2022 at: 6:57 PM EDT

It is a pivotal moment in economic history. The dust is settling from the economic shock caused by the Covid-19 pandemic. Meanwhile, the post-pandemic inflation crisis and Russia-Ukraine War linger on, creating stock market uncertainty, fueling fears of an economic downturn, and, in some quarters, of a worldwide financial disaster. So, the latest data on the service sector of the U.S. economy is indeed reassuring. Amid considerable gloom and doom, the index of business activity in the service sector, which accounts for 89% of U.S. gross domestic product, ticked up in August to 56.9%. No collapse is under way. Far from...

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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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