Economics
U.S. Service Industries Expand at Near-Record Pace in November
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A gauge of U.S. service industries unexpectedlyrose in November to a near-record level amid gains in businessactivity and new orders, adding to indications that the sectorremains robust in the fourth quarter.
The non-manufacturing index rose to 60.7, an Institute forSupply Management survey showed Thursday. That compared withestimates for a decline to 59. The advance was led by businessactivity and new orders, while a gauge of inventories rose for athird month.