U.S. Service Industry Expands at Fastest Pace on Record

The video discusses the reopening of service industries as vaccination rates increase, highlighting a significant rise in the ISM services PMI. It examines business activity, new orders, and employment data, noting substantial improvements. The focus then shifts to price monitoring and inflation expectations, with the Federal Reserve's stance on inflation being discussed. Finally, the video reviews factory orders and the strength of manufacturing, indicating a rapid economic recovery.

What significant milestone did the ISM services PMI reach, as mentioned in the video?

• A decrease from the previous month

• A new low since 2008

• A high not seen since August 1997

• The same level as in 2010

What was the new orders index value mentioned in the video?

• 60.0

• 51.9

• 55.3

• 72.0

How did the employment figures change according to the video?

• They remained the same

• They were not mentioned

• They decreased slightly

• They increased significantly

What was the Federal Reserve's stance on the rising prices?

• They are concerned about immediate inflation

• They are not worried about inflation for now

• They are planning to decrease interest rates

• They plan to increase interest rates

What trend was observed in factory orders as discussed in the video?

• A consistent increase

• No change at all

• A decrease after a previous increase

• A significant drop