Crunch Time For Services
As the economy heads further into recession in 1991, what sector is going to be the big loser? Early indications are that services--the two-thirds of production not manufactured or mined--are going to be hardest hit. In last year's Industry Outlook, we pointed to weaknesses in services that already suggested a bad year, and we were right. Retailing, fast food, restaurants, advertising, publishing, real estate, and banking had a terrible year, and the chilling prospect is for more of the same.
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