Good news from the service sector: A key aspect of the economy is the service sector constituting 77% of GDP. The best known measure of this sector is the ISM Non-Manufacturing Index which, according to economist Brian Wesbury, increased to 56.0 in October, easily beating the consensus expected 53.8. (Levels above 50 signal expansion.)
A Busy Week…a new administration, another interest rate drop. Will there be more inflation, more interest rate cuts? ITR Economics Eric Post provides a great summary of why rates won’t get back to pre-pandemic levels…and some specific advice about the maximum time horizon you should allow for a business investment.
