US Services Sector Gauge Picks Up on Improved Business Activity
- ISM services index rose by 0.9 points to 52.7 in November
- Prices rose at a slower pace while orders held steady
The index indicates expansion for all of this year, and has only dipped into contraction once since the onset of the pandemic.
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The US service sector expanded at a faster pace in November as business activity and employment picked up.
The Institute for Supply Management’s overall gauge of services rose 0.9 points to 52.7 last month, data out Tuesday showed. The index has remained above the 50 level that indicates expansion for all of this year, and has only dipped into contraction once since the onset of the pandemic.