Business Services | Second Quarter 2019
August 2019 – For the second quarter of 2019, the SCA Business Services Index increased by 2.9%, slightly ahead of the S&P 500, which rose 2.6%. Most sectors in Business Services including HR Services, Marketing Services, and Professional Staffing generally performed inline with the broader market, as investors overcame concerns about the prospect of a slowing economy and focused on Fed guidance of a rate cut and strong employment data. Of particular note was the performance of the Information Services sector which includes a broad range of proprietary data service providers such as CoStar, Equifax, Fair Isaac, and Gartner. The companies have continued to show strong earnings growth as their data becomes increasingly imbedded in AI decision tools for a broad range of businesses.
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