Growth in U.S. Service Industries Cools From a 12-Year High
A shopper looks through the door of a store in Chicago, Illinois, on Nov. 23, 2017.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Growth in U.S. service industries cooled by more than forecast in November after the fastest expansion since 2005, as orders eased and supply chains normalized following two hurricanes, an Institute for Supply Management survey showed Tuesday.
The November retreat shows services are settling back to a more sustainable pace, though a weaker one than analysts were expecting for the month. Even with the slowdown, which follows a hurricane-related surge in activity, the index is above the 57 average for this year through October.