- During the Pandemic, discretionary services such as travel and entertainment have been hard hit, and consumer spending on services in February was still down 5.2% from a year ago.
- But the services sector is enormous, ranging from healthcare to tech, and demand has been strong in many segments, and is coming back in others.
- Amid backlogs and shortages, input prices are soaring and companies are able to pass on those higher prices.
For further details see:
Prices Surge Broadly Across The Massive Service Sector, And Companies Are Able To Pass On These Higher Prices