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Economic Brief

December 2010, No. 10-12

The Service Sector and the "Great Recession"

Robert Schnorbus and Aileen Watson

The recent recession had a lasting effect on the service sector, both nationally and in the Fifth District. The Fifth District Service Sector Index of Revenues provides valuable insights into the nature of the service sector's downturn, and its links to downturns in other markets. In particular, breaking down the aggregate index into its component industries reveals important differences in each subsector's decline and relative recovery.

Additional Resources

Fifth District Survey of Service Sector Activity, Federal Reserve Bank of Richmond

Non-Manufacuring Data, ISM Report on Business

Schnorbus, Robert H. "Small Business Employment in the Fifth District and the Impact of Recessions." Region Focus, First Quarter 2010, pp. 36-43.

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