Growth in the US service sector weakened more than expected in November, according to the results of the Institute for Supply Management's (ISM) latest monthly survey of purchasing managers.

The ISM services index fell to 52.1 from 56 in October, while economists were expecting an average of 55.5.

The activity sub-index fell to 53.7 from 57.2 the previous month, while the new orders sub-index fell to 53.7 from 57.4 in October.

The component measuring prices paid remained broadly stable, at 58.2 after 58.1 the previous month, but the employment sub-index worsened to 51.5 from 53 the previous month.

Published a little earlier, the competing PMI index published by S&P Global showed an increase, to 56.1 in November from 55 in October.

Copyright (c) 2024 CercleFinance.com. All rights reserved.