service sector

Service Sector Picks Up Speed, Growing at Fastest Pace Since May

The U.S. services sector, like its sister sector, manufacturing, continues to hold up its part of the recovery bargain, as the sector expanded at the fastest pace in six months. The U.S. economy is still growing well below its potential, but investors, business executives, and job seekers alike can head in to 2011 knowing that the services sector will continue to add to GDP growth and jobs as the new year begins.

Service Sector Expands at Fastest Pace in Three Months

The U.S. service sector unexpectedly grew at a faster pace in October -- and if conditions in the giant sector continue to improve, that would likely lead to increased service sector hiring, as companies increase production to meet rising demand.