The ups and downs of services: does the split of output between manufacturing and service industries affect countries' economic cycles?

Article Abstract:

Manufacturing is claiming a decreasing share of the gross national product in developed countries, and there is some concern about the trend's effect on economic cycles. However, some economists believe that the greater influence of service industries will mean steadier economic cycles.

MISCELLANEOUS MANUFACTURING INDUSTRIES, Manufacturing NEC, All Other Miscellaneous Manufacturing, Business services, not elsewhere classified, All Other Business Support Services, Business Services NEC, Column, Business services

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The final frontier

Article Abstract:

Most first world nations are stretching to service-based economies. Service now accounts for 72% of the US gross domestic product. Manufacturers are also becoming increasingly dependent on the service sector but few admit this reliance.

Forecasts and trends, Organization for Economic Cooperation and Development

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Wealth in services

Article Abstract:

The prevailing notion that economies need a strong manufacturing base to thrive is seldom challenged, even if statistics do not support it. Manufacturing is not more important than services, and both industries need each other.

Analysis, Industrial policy

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