Tempe-Based ISM Says Service Economy Is Strong
Service-related businesses are, once again, helping to drive the economy. That's according to the latest nationwide analysis from Tempe-based Institute for Supply Management, which issues surveys each month on economic indicators.
Its just-released August survey says that a sustained demand for services in industries like utilities, retailing, health care and construction are on the rise.
It also says those are the industries that make up about 90 percent of the economy, that service industry growth is a major indicator that the U.S. economy is doing well after a slow month in July.