Advertisement
YOU ARE HERE: LAT HomeCollectionsService Sector
IN THE NEWS

Service Sector

BUSINESS
March 5, 2013 | By Jim Puzzanghera
WASHINGTON -- The service sector, the major driver of the U.S. economy, expanded in February at its fastest pace in a year, according to a leading private barometer released Tuesday. The Institute for Supply Management's non-manufacturing index rose to 56 last month from 55.2 in January. The increase exceeded expectations of analysts, who had expected the widely watched purchasing manager's index would be little changed. Last month's reading was the highest since the index registered 56.1 in February 2012.
Advertisement
BUSINESS
December 5, 2012 | By Jim Puzzanghera
WASHINGTON -- The nation's service sector expanded last month at a slightly faster pace than in October as new orders offset a dip in hiring. The Institute for Supply Management's purchasing managers' index rose to 54.7 in November, up 0.5 from the previous month, the group said Wednesday. A reading above 50 indicates growth, and November marked the 35th straight month of expansion. Analysts had expected the pace of growth to slow last month to about 53.5. ISM reported Tuesday that the manufacturing sector contracted in November for the first time in three months, though Hurricane Sandy might have caused the reading to fall to its lowest level since 2009.
BUSINESS
November 5, 2012 | By Jim Puzzanghera
WASHINGTON -- Growth in the crucial service sector slowed last month as business activity and new orders dipped, according to a key private-sector index released Monday. The Institute for Supply Management's non-manufacturing index dipped to 54.2 in October from 55.1 the previous month, the group said. The figure was slightly below analyst expectations of about 54.5 and marked the first slowdown in growth since June. Still, the group's widely watched purchasing managers index showed growth in the sector for the 34th straight month.
BUSINESS
November 5, 2012 | By Tiffany Hsu
According to one gauge, Americans say their personal financial health is the best it's been in years, even as the uncertainty of the presidential election looms and the money-sucking winter holiday season approaches. The Trouble Tracker Index from Consumer Reports, which measures reports of household money woes, fell sharply to 38.7 in its November edition from 50.2 in last month's tally -- its lowest level since the gauge was first calculated in April 2009. Any figure above 50 means that more consumers are struggling with troubles such as the inability to pay for medical bills, shrinking healthcare coverage and missed payments.
BUSINESS
August 3, 2012 | By Jim Puzzanghera
WASHINGTON  -- The growth of the U.S. service sector picked up in July, beating analyst expectations and providing another good - though not great - economic sign Friday. The Institute for Supply Management's non-manufacturing index increased to 52.6% from 52.1% in June. Analysts had expected it to stay flat. The improved reading came as the government reported the U.S. economy created 163,000 net new jobs in July, also beating expectations. The unemployment rate increased to 8.3% from 8.2%.
BUSINESS
March 8, 2012 | By Hugo Martin, Los Angeles Times
In another sign of an improving economy, private companies added 216,000 jobs in February, according to a study released Wednesday. The new numbers mark a significant improvement over the 173,000 jobs added in January, according to Automatic Data Processing Inc., a New Jersey human resources, payroll and benefits company that releases a monthly jobs report based on data from nearly 500,000 clients. The biggest jump came in the service sector, which added 170,000 jobs, according to the report.
BUSINESS
February 4, 2012 | By Nathaniel Popper, Los Angeles Times
Stocks surged around the globe Friday, thanks to a pair of good reports on the U.S. economy, sending the Dow Jones industrial average to the highest level since May 2008. Hope on Wall Street that the economy continues to improve also sent the technology-heavy Nasdaq composite index to its highest level since the heady days of the technology boom in 2000. And at least some of that enthusiasm was fueled by investor hype over Facebook's upcoming initial public offering. The numbers put the post-Lehman Bros.
BUSINESS
February 3, 2012 | By Tiffany Hsu
Another good sign for the economic recovery: U.S. factories are busily humming along, with manufacturing orders for commercial aircraft, machinery and autos up in December. New investment in capital goods rose 1.1% to $466.2 billion, according to the Commerce Department . Orders had jumped 2.2% in November. Transportation equipment alone was responsible for $58.3 billion worth of orders. Overall, orders spiked 12.1% in 2011 after rising 12.9% the year before. The $5.36-trillion total is just under the $5.44-trillion record set in 2008.
BUSINESS
November 5, 2011 | By Alana Semuels, Los Angeles Times
The good news for the U.S. economy is that a double-dip recession looks increasingly remote. The bad news: It can't seem to get out of first gear. Employers added just 80,000 jobs in October, about 20,000 less than economists expected, and far fewer than the 125,000 jobs needed to keep pace with population growth and younger adults joining the labor force. The unemployment rate slipped to 9% from 9.1% the month before, the Bureau of Labor Statistics said Friday, but the rate is still double what it was five years ago. "We are on the path to recovery, but to regain the 8.5 million jobs that we lost is going to be a long way down the road," said Esmael Adibi, an economist at Chapman University.
Los Angeles Times Articles
|