Economic activity in the services sector grew in November

 

• November ISM Service Index: 55.9% vs. 56.0% consensus, 56.6% prior.
• Business activity 58.0% vs 61.2% prior.
• New Orders 57.2% vs 58.8%.
• Employment 51.5% vs 40.1%.
• Supplier deliveries 57.0% vs. 56.2%.

 ...meanwhile...

• November PMI Composite Index: 58.6 vs. 57.9 consensus and 56.9 prior.
• Service: 58.4 vs. 57.7 consensus and 56.3 prior.
• Employment rises at fastest pace in survey history.
• Price indices at survey highs as cost pressures intensify.