Activities of the Service Sector Increase Though in Slow Pace
Activities of the Service Sector Increase Though in Slow Pace

Thomson Reuters conducted a poll investigating the economists’ expectations regarding the growth of the national economy in 2010. According to the poll, released on Friday, the growth is in continuous rise, reaching August as the 8th months in a chain of growth, with a hitch in July. Despite the significant growth in the entire service sector of the US, the growth is actually slower than needed.

As a result, the economists add, employers and business owners are still having troubles in providing job opportunities, in order to reduce the joblessness rate across the country. The service sector contributes with 80% in the national employment level that stands for the jobs offered at hospitals, shops, restaurants, airlines, banks and consulting firms.

Paul Ashworth, an Economist at Capital Economics commented on the results saying that it is not that easy for the economy to recover the substantial losses recorded during the recession. He said that the growth of the economy is moderate and promising although ‘fragile’ and slow paced.

In addition, Ben Bernanke, the Federal Reserve Chairman, confirmed that the US Central Bank is willing to work on certain strategies, which would be implemented in the future in an attempt to boost the activity of the economy, and consequently increase the growth of the service sector.

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