U.S. Services Gauge Rises to Record as Activity, Employment Firm
- ISM’s November index rises to 69.1, exceeds all estimates
- Business activity, orders measures also at series highs
Photographer: Andrew Harrer/Bloomberg
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U.S. service providers expanded at a record pace in November as steadfast consumer demand drove a further strengthening in business activity and kept orders firm.
The Institute for Supply Management’s services index advanced to 69.1 last month from 66.7 in October, data showed Friday. Readings above 50 signal growth, and the November print exceeded all forecasts in a Bloomberg survey of economists.