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ISM: Services activity increases in November

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ISM: Services activity increases in November

NMI of 59.3% significantly exceeds expectations.

Economic activity in the non-manufacturing sector expanded beyond expectations in November, according a report issued today by the Institute of Supply Change Management.

The November NMI registered 59.3%, an increase of 2.2 percentage points from October’s 57.1%, indicating an increased rate of expansion in the service sector.

"Analysts had expected a reading of 57.5%."

Analysts had expected a reading of 57.5%.

The Non-Manufacturing Business Activity Index increased to 64.4%, which is 4.4 percentage points higher than the October reading of 60%, reflecting growth for the 64th consecutive month at a faster rate.

The New Orders Index came in at 61.4%, 2.3 percentage points higher than the reading of 59.1% percent registered in October. The Employment Index decreased 2.9 percentage points to 56.7% from the October reading of 59.6% and indicates growth for the ninth consecutive month.

The Prices Index increased 2.3 percentage points from the October reading of 52.1% to 54.4%, indicating prices increased at a faster rate in November when compared to October. 

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