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Service Sector Up 2.4% – Recession Over!

From those now relentless economic boosters at the Associated Press:

US service sector gauge grows faster in March

By Tali Arbel, AP Business Writer

April 5, 2010

NEW YORK – The U.S. service sector grew in March at its fastest pace in more than two years, suggesting the economic recovery is expanding from the nation’s factories to its shops, restaurants, hospitals and other big sources of jobs.

The Institute for Supply Management, a trade group, said Monday its service index rose to 55.4 in March from 53 in February.

Economists surveyed by Thomson Reuters had expected a reading of 54. Any reading above 50 signals expansion

Wow. All of this excitement over an increase of 2.4%, which was just 1.4% more than the always wrong expects had predicted.

The AP will clutch at any straw to tell us that everything is much better now.

Prosperity really must be just around the corner.

This article was posted by Steve on Monday, April 5th, 2010. Comments are currently closed.

3 Responses to “Service Sector Up 2.4% – Recession Over!”

  1. BillK says:

    Funny, the service sector is that same bunch of “Wal-Mart” jobs they keep telling us represent an unacceptable alternative for families and even for young people just entering the labor market.

  2. proreason says:

    Maybe the service sector is expanding.

    But on what basis would one believe a word they say?

    The employment stats are cooked. Why wouldn’t they cook this one as well?

  3. U NO HOO says:

    Will they be counting breast feeding your infant as a service sector job?

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