services sector

The Purchasing Managers’ Index from S&P Global this month shows a booming manufacturing sector, while service industries are stagnating.

The Institute for Supply Management’s Purchasing Managers Index, out on Monday, showed that the prices businesses pay for what they need shot up 7.7 percentage points in March.

Widgets are a general stand-in for any produced good. But how do we think about widgets when goods are only a fraction of what we produce?

Labor costs are a big component of the cost of services, and consumer spending on services accounts for nearly half of this economy.

Right now, some service businesses are more affected than others by tariffs on goods.

Services also account for about a third of U.S. exports.

ISM data was mostly positive, while S&P Global reported weakness. The discrepancy may be down to who’s responding — and when they’re doing it.

Airline tickets and eating out cost more in August than July. But price gains are easing in other previously sticky industries.

The services sector has expanded in 47 of the last 50 months, according to the Institute for Supply Management. Several business owners in the sector report renewed strength this year.

Instead of $50 main courses, they’re opting for sandwiches and other lower-priced items, say restaurants around the country.