Service Sector Rebounds; Optimism Returns

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Mortgage and Lending with The Federal Savings Bank/Lending in 50 states NMLS # 109616

After being decimated during the pandemic-induced shutdowns in late March, April and May, the service sector continues to rebound across the nation. The ISM Service Index rose to 57.8 in September from 56.9 in August and above the 57.3 seen pre-pandemic in February. ISM spokesperson Anthony Nieves said, "Respondents’ comments remain mostly optimistic about business conditions and the economy, which correlates directly to those businesses that are operating."

On Capitol Hill, the White House reports that the health of President Trump has improved to the point that he may get discharged from Walter Reed Hospital as early as today. Hopes of a fourth stimulus package is gaining steam in D.C. as millions of Americans await aid from the government. Hopefully, Congress can come together and agree on an aid package after House Speaker Pelosi says lawmakers are making progress while President Trump says "get it done."

 

The service sector rises. President Trump's health improves. Stimulus aid gaining steam.

 

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