Economic activity in the services sector expanded in November for the 11th consecutive month as the Services PMI® registered 52.7 percent, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The sector has grown in 41 of the last 42 months, with the lone contraction in December 2022. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "In November, the Services PMI® registered 52.7 percent, 0.9 percentage point higher than October's reading of 51.8 ... (full story)

The U.S. services sector picked up in November amid an increase in business activity, although new orders remained flat and a gauge of input inflation dipped as the lagged effects of higher interest rates start to have a greater impact. The Institute for Supply Management (ISM) said on Tuesday that its non-manufacturing PMI rose to 52.7 in November from 51.8, which was a 5-month low. A reading above 50 indicates growth in the services industry, which accounts for more than two-thirds of the economy. Economists polled by Reuters had forecast the index edging up to 52.0. The Federal Reserve has raised its policy rate ... (full story)