Service Sector Operates at Highest Level in Almost Two Years
By MARTIN CRUTSINGER AP Economics Writer
WASHINGTON (AP) — The services sector, where most Americans work, operated in January at the highest level in almost two years.
Activity climbed to a reading of 58.7% in January on a seasonally adjusted basis, according to a report Wednesday from the Institute for Supply Management, up a full percentage point from 57.7% the previous month.
This was the highest reading since February 2019 when the index hit 58.8%. The January performance represented the eighth straight month of growth after sharp declines last spring when the economy was leveled by a global pandemic.
Pictured: In this Sept. 30, 2020 file photo, Waiter Lenworth Thompson serves lunch to David Zennario, left, and Alex Ecklin at Junior’s Restaurant in New York. (AP Photo/Mark Lennihan)
Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.