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  2. A manufacturing economy is what many think of when they hear about the economy because it's what most people are familiar with. Manufacturing tends to produce 'things'—tangible objects that you can see and touch. A service economy is more intangible and provides services to customers. These can be anything from food delivery to financial advice.
    uk.indeed.com/career-advice/career-development/what-is-service-economy
    uk.indeed.com/career-advice/career-development/what-is-service-economy
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    What is the difference between a manufacturing economy and a service economy?Economies are dis-tinguished based on its main driving force. A manufactur-ingeconomy is driven by the mass production of products , whereas a service economy is based on knowledge-intensive industries and services in economic production, well-educated workers in the occupational market, and innovating firms in business .
    What are some economic facts about the service sector?Since early 2020, there have been extraordinary disruptions across all sectors of the economy. This set of nine economic facts about the service sector in the United States illustrates recent trends in spending, employment, and inflation as the country continues to rebalance.
    Does the services sector grow faster than the manufacturing sector?But in the past three decades, the services sector has grown faster than the manufacturing sector in many developing economies. In 2019, the services sector accounted for an average of 55 percent of GDP and 45 percent of employment in developing economies.
    Does the service sector drive economic growth?In fact, in some cases, the service sector drives economic growth. The service economy is one of the most important global economies. As a whole, it contributes over 20 trillion dollars to the world's gross domestic product (GDP) and employs more than two billion people.
     
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