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Economic Commentary

Mixed signals on service sector growth

September 12, 2022
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Last week’s economic data featured mixed data for service industries, with one survey firmly in expansion and the other firmly in contraction. Additionally, the labor market continues to be tight by any measure and Fed Chair Jerome Powell reiterated the Fed’s commitment to bringing about price stability even at the expense of a weaker economy.



Key Takeaways:

What we learned last week: (pg. 1)

  • Expansion continues in services, according to ISM
  • Initial jobless claims fall, remain very low

What we’re watching this week: (pg. 2)

  • Further soft inflation for August
  • Costs for producers likely to fall again
  • Back to school lifts retail sales

View our informative commentary on the economy and financial markets – and find out what we’re watching for the week ahead: