Indicators
US Services Activity Expands at Slowest Pace in Three Months
- ISM services PMI dropped to 52.1, trailing all forecasts
- November survey showed weaker orders and employment growth
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US services activity expanded in November at the slowest pace in three months as demand and employment growth settled back, indicating the largest part of the economy is losing momentum.
The Institute for Supply Management’s index of services dropped 3.9 points, the first decline since June, to 52.1 last month, the group said Wednesday. While readings above 50 indicate expansion, the latest figure was weaker than all projections in a Bloomberg survey of economists.