Economics
ISM Services Gauge in U.S. Unexpectedly Rose in November
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Service industries in the U.S. unexpectedly grew at a faster pace in November, showing the biggest part of the economy is weathering concern about looming federal tax increases and spending cuts.
The Institute for Supply Management’s non-manufacturing index rose to 54.7 last month from 54.2 in October, the Tempe, Arizona-based group said today. Economists projected a decline to 53.5, according to the median estimate in a Bloomberg survey. Readings above 50 signal expansion.