WASHINGTON – Growth in the services sector, where most Americans work, hit an all-time high in November, overtaking a record that was set the previous month.
The Institute for Supply Management reported Friday its monthly survey of service industries increased by 2.4 percentage points in November from the October record to a reading of 69.1 percent. Any reading above 50 indicates growth.
Some of the strength in the services sector is coming from supply-chain troubles that are making it harder to meet increased demand. Those troubles are showing up in the index as longer supplier delivery times and rising prices, which register as strengths for the services sector.
725,000 Honda SUVs, pickups recalled
Honda is recalling nearly 725,000 SUVs and pickup trucks because the hoods can open while the vehicles are moving. The recall covers certain 2019 Passports, 2016 through 2019 Pilots and 2017 through 2020 Ridgeline pickups.
Honda says in documents posted Friday by U.S. safety regulators that the hood latch striker can become damaged and separate from the hood. Dealers will either repair the striker or replace the hood if necessary at no cost to owners. Honda will notify owners by letter starting Jan. 17.
Tesla formally moves HQ to Austin, Texas
Electric automaker Tesla has moved its headquarters from Palo Alto, California, to Austin, Texas.
On Oct 7, Tesla CEO Elon Musk announced the company would be moving to Austin, but gave few details on the timing of the move. Now, documents filed with the Securities and Exchange Commission show the company has formally relocated its corporate headquarters to the same site as the $1.1 billion manufacturing facility it is currently building in Travis County.