Business Services | Third Quarter 2021
November 2021 – After rising over 13% through Q2 2021, the SOLIC Business Services Sector Index (“SBSS Index”) was essentially flat during Q3 2021, increasing 0.7% in Q3 2021 compared to a 6.6% increase for the S&P 500. In particular, concern over the growing impact of the delta variant, along with rising inflation and supply chain challenges, caused stocks of services-related businesses to pull back in August and September. Stocks of Marketing Services (-11.5%) and Professional Staffing (-5%) experienced the greatest pullback in Q3, while IT Consulting (+8.4%), Specialty Consulting (+4.8%) and Information Services (+4.5%) experienced the strongest performance.
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