Service sector makes up for factory decline
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Weakness in the manufacturing sector, especially the auto industry, may be dampening the nation's economic prospects, but the bigger services sector appears to be more than making up for it.
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Manufacturing expansion slowed in  August as a decline in new orders led factory managers to opt  for caution, while construction spending unexpectedly fell in  July, according to data released on Tuesday.
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The service sector of the economy showed slower growth in January, as the rate of expansion in both employment and inflation pressures softened, the Institute for Supply Management said Thursday.
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The pace of growth in the U.S. service sector posted a surprisingly sharp fall in February, retreating from January's eight-month high as new orders and prices paid declined, according to a report released on Monday.
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U.S. factory activity shrank in  November for the first time in 3-1/2 years as new orders,  production and employment fell and prices paid rose, according  to a survey published on Friday.
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Services firms are worried that they are vulnerable to a weakening economy, a CBI report warns.
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A surprise drop in a regional factory   activity report on Thursday suggested that the U.S. economy may   be losing momentum faster than most economists anticipated,   stunning financial markets with the view that the Federal   Reserve may soon have to cut interest rates to avoid a   downturn.
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Surprising strength in the nation's service economy, coupled with recent data showing the manufacturing sector is humming along, suggest the broader economy may be shaking off slumps in the housing and automotive industries.
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British manufacturing output has dropped 0.4 percent in October from the previous month.
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Growth in US services - the engine driving the world's biggest economy - has slowed sharply, a survey suggests.
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The Census tries to keep tabs on the key, and overlooked, service economy.
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NEW YORK - Factory activity in the US Mid-Atlantic region slumped in September, a survey showed Thursday, spurring fears that the economy&#39;s soft patch over the summer could extend into the fall.
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Factory production shrank in December  for the first time in nearly a year as tighter lending  conditions and a slowing economy took their toll, according to  a national survey published on Wednesday.
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Manufacturers saw their fledgling recovery stumble in July on sharp declines in the production of beer and medicines, figures showed today.
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A gauge of US manufacturing fell this month to the lowest in more than a year, incomes lagged spending in September and home construction declined in the final economic reports before tomorrow&#39;s presidential election.
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Manufacturing output has unexpectedly fallen for the third month in a row in August and at the sharpest pace in nearly two years, official data show.
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The British Chamber of Commerce says almost 8,000 UK manufacturing jobs have been lost so far in 2007.