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Economic good news! Service industry up 10 percent to pre-recession levels

Service-related economic activity experienced a big uptick between September and October, rising 10.6 percent to a level higher than at any point in 2008 or 2009.

SoldAtTheTop / The Paper Economy
Non-manufacturing business activity (blue line), which represents primarily the service industry, increased 10.61 percent between September and October, the biggest one-month change (pink bars) in over a year. When compared to the previous year (aqua area), October 2010 activity was up by over 8 percent.

Yesterday, the Institute for Supply Management released their latest Non-Manufacturing Report on Business indicating that service related economic activity continued to expand with a notable tick up in business activity in October.

At 58.40 the business activity index improved increasing 10.61% since September and rising 8.15% above the level seen a year earlier.

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