WSJ: The U.S. economy’s first-quarter contraction could look less grim thanks to new data showing stronger-than-expected revenues at doctors’ offices.
Eight of 12 broad categories of service-providing businesses saw annual revenue growth decelerate or drop outright in the first quarter compared with the final three months of 2014, the Commerce Department said Wednesday in its Quarterly Services Survey. However, year-over-year revenue growth accelerated in one of the largest sectors, health care and social assistance.
The evidence of stronger-than-expected spending on health-care services led several private economists to upgrade their estimates for gross domestic product, the broadest measure of goods and services produced across the U.S. economy.
OK, so the US specialty is medicine, then why is the demand for medical specialties so high? If this was our money maker, then it should be easy to hire workers, but it ain't. This is a constrain on the economy at the moment, and that means something, likely exports or durables, is going to get a downward, backward revision.
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