The service sector and the "Great Recession"

Abstract

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.Business cycles ; Federal Reserve District, 5th ; Recessions