Abstract: Abstract Since the service sector currently accounts for a large and growing share of U.S. economic activity, we have undertaken to develop indicators that throw light on its current status and future prospects. A composite coincident index of aggregate economic activity in the service sector is constructed, and a growth-cycle chronology is identified based on growth rates in this index and in its components. Then several macroeconomic leading indicators of service are identified, and from them a composite leading index is constructed. The growth rate in this index is found to give advance warnings of major swings in the growth of the service sector. KEY WORDS: ForecastingGrowth cyclesService industries
Publication Year: 1989
Publication Date: 1989-07-01
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 49
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