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Analysis of "U.S. Service Sector Grows Slow" - Essay Example
Pages 4 (1004 words)
The article I selected for analysis is called U.S. Service Sector Grows Slow (Bond, 2011). The article discusses the current state of the U.S service sector. Economic indicators illustrate that the service sector in the United States is showing a decline. The Institute for Supply Management’s non manufacturing index fell to 52 in November from 52.9 in October…
Many companies in the service sector are highly dependent on their marketing efforts to achieve further growth. Many experts are worried about the deceleration in growth in the service sector. Carl Leahey, a senior Economist at Senior Economist stated, “This survey shows a slow-moving service sector. That is pretty much in line with the market sense that though the economy has improved, it is still not growing very quickly” (Bond, 2011). Despite the worries of many scholars about the service sector there are other signs that showed major improvement in the U.S. economy such as the latest unemployment figures which showed a national unemployment rate of 8.6%. The labor market is finally growing. These are great news for all Americans as employers should be aggressively recruiting new personnel. The total exports in the U.S are also on the rise. Exporting is one of the primary expansion strategies used by marketers. The inventories of many companies are moving from contraction to expansion. The movement of merchandise from the United States to other countries is a great sign. Most companies in today’s marketplace cannot survive by using solely a domestic strategy. International expansion is one of the most effective ways marketers are able to achieve growth. ...