U.S. Service Sector Growth at 3-Month High

The ISM non-manufacturing PMI index increased to 59.3 percent in November from 57.1 reported in October. While business activity, new orders and prices paid components increased, employment and imports indexes fell.
Institut for Supply Management, anna@tradingeconomics.com 12/3/2014 3:18:00 PM
The Non-Manufacturing Business Activity Index increased to 64.4 percent, which is 4.4 percentage points higher than the October reading of 60 percent, reflecting growth for the 64th consecutive month at a faster rate. The New Orders Index registered 61.4 percent, 2.3 percentage points higher than the reading of 59.1 percent registered in October. The Prices Index increased 2.3 percentage points from the October reading of 52.1 percent to 54.4 percent, indicating prices increased at a faster rate in November when compared to October. 

Two out of the ten components of the survey, employment and imports, fell from October, but all were above the 50 level. The Employment Index decreased 2.9 percentage points to 56.7 percent from the October reading of 59.6 percent and indicates growth for the ninth consecutive month. The Imports index declined to 53.5 from 56 reported in the previous month.

U.S. Service Sector Growth at 3-Month High