U.S. Service Industries Expand at Fastest Pace in Seven Months

[Purveyor]

Source: Bloomberg

American service providers expanded in June at the fastest pace in seven months on stronger orders and sales that signal a healthy U.S. economy.

The Institute for Supply Management’s non-manufacturing index jumped to 56.5, exceeding the most optimistic projection in a Bloomberg survey, from 52.9 in May, the Tempe, Arizona-based group’s report showed Wednesday.

The gauge of service producers from construction firms to retailers posted its biggest monthly advance since February 2008, helped by resilient consumer spending. Combined with an already reported pickup in manufacturing, the data suggest the U.S. economy was gaining speed
leading up to Britain’s decision to exit the European Union.

Americans’ Spending Seen Solid

“Consumers are looking pretty good,” Sophia Kearney-Lederman, an economic analyst at FTN Financial in New York, said before the report. “They seem to be carrying the second-quarter rebound.”

Read more: http://www.bloomberg.com/news/articles/2016-07-06/u-s-service-industries-expand-at-fastest-pace-in-seven-months

[Angry Dragon]

1. I see a very large recession in the near future

[Jack from Charlotte]

2. When is.....the near future..... and

seeing a recession based upon what?

[Angry Dragon]

3. Within a year or two

and I do not see a strong economy

[Recursion]

4. Zerohedge agrees, and they've predicted 7 of the past 2 recessions (nt)

[Angry Dragon]

5. 7 of the past 2??

[Recursion]

6. That's my point

Yell "recession" often enough and you'll eventually be right; business cycles are an actual thing.

[Angry Dragon]

7. Just stating my opinion