Texas Business Lawyer

In a development seen as corroborating fears of a recession, a key survey of service-sector executives showed that business activity in the sector declined during the month of January - the first time it has done that in five years. The Institute for Supply Management issued an index rating for the service sector of 41.9, a substantial drop from 54.4 in December of 2007. A rating above 50 indicates sector growth, while a rating below 50 indicates a decline in the sector.

While some economists say the dismal index reading for January is not definitive evidence of a recession by itself, others point out that the service sector is much larger than the troubled manufacturing sector, and that the danger signals cannot be ignored.

The world of business is a tough one, especially when there are legal concerns involved. If your business needs legal counsel or advice, call an Austin business lawyer from Slater and Kennon at 512-472-2431 today.