US Services Sector Growth at 13-Month High: ISM

The ISM Non-Manufacturing PMI index rose to 57.2 in November of 2016 from 54.8 in the previous month, beating market expectations of 55.4. It is the highest value since October last year, boosted by business activity and employment while new orders growth slowed.
ISM | Joana Taborda | 12/5/2016 3:07:34 PM
The Non-Manufacturing Business Activity Index increased to 61.7 percent, 4 percentage points higher than the October reading of 57.7 percent, reflecting growth for the 88th consecutive month, at a faster rate in November. 

The New Orders Index registered 57 percent, 0.7 percentage point lower than the reading of 57.7 percent in October. 

The Employment Index increased 5.1 percentage points in November to 58.2 percent from the October reading of 53.1 percent. 

The Prices Index decreased 0.3 percentage point from the October reading of 56.6 percent to 56.3 percent, indicating prices increased in November for the eighth consecutive month at a slightly slower rate. 

14 non-manufacturing industries reported growth in November. The majority of respondents' comments are positive about business conditions and the direction of the overall economy.

US Services Sector Growth at 13-Month High: ISM