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Growth in the services sector, where most Americans work, slowed sharply in February, with hurdles related to the pandemic hindering growth.
The Institute for Supply Management said Wednesday that its index of service sector activity dropped to a reading of 55.5% in February, down 3.4 percentage points from January, when activity neared a two-year high.
Even with the decline, it was the ninth straight month of growth in the services sector. Any reading above 50 signifies growth.
Economists had expected some rollback from the January high, but the size of the February drop was much bigger than expected, driven by a sharp decline in the new orders index. That fell to 51.9%, down from a January reading of 61.8%. The index readings for business activity and employment also fell from the previous month.
Thanks to a grant from the St. Johns River Water Management District, the City of Oak Hill is closer converting a large number of residents septic systems city sewer.
The effort should lead to a cleaner Indian River Lagoon system. But some residents are still concerned that the project will individually cost them more than they can afford.
Gov. Ron DeSantis appropriated $25 million to the water management district for the Indian River Lagoon Water Quality Grant for the 2020-2021 fiscal year. That in turn made smaller grants for septic to sewage projects available, enabling the water district to award the $2.5 million grant to Oak Hill.
From pleas to unify the country, to reminders that Americans are suffering, Washington Post readers write to vice president-elect Kamala Harris before she takes office.
Elbit Systems buys US undersea warfare co Sparton for $380m
The acquisition will strengthen Elbit Systems of America’s capabilities and will enable expansion of activities in the naval arena.
Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) announced today that its US subsidiary, Elbit Systems of America LLC has signed a definitive agreement with an affiliate of Cerberus Capital Management L.P. for the acquisition of Sparton Corporation for $380 million.
The transaction is subject to closing conditions including receipt of US regulatory approvals, which could take several months.
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Headquartered in De Leon Springs, Florida, Sparton develops, produces and supplies electronic systems supporting undersea warfare for the US Navy and allied military forces.