Indicators
US Services Gauge Rises Unexpectedly on Business Activity Surge
- ISM’s gauge of services rose to 56.5 in November from 54.4
- Business activity index jumps by the most since March 2021
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Growth at US service providers unexpectedly accelerated in November as a measure of business activity jumped by the most since March 2021, suggesting the largest part of the economy remains resilient.
The Institute for Supply Management’s gauge of services rose to 56.5 last month from 54.4 in October, according to data released Monday. Readings above 50 signal growth, and the median projection in a Bloomberg survey of economists was 53.5.