Service Sector, Which is 2/3 of US Economy, Grows Faster in November - ISM
The eleven industries reporting growth in November — listed in order — are: Wholesale Trade; Information; Management of Companies & Support Services; Agriculture, Forestry, Fishing & Hunting; Retail Trade; Arts, Entertainment & Recreation; Health Care & Social Assistance; Real Estate, Rental & Leasing; Other Services*; Utilities; and Professional, Scientific & Technical Services.
The three industries reporting activity the same as last month are: Mining; Transportation & Warehousing; and Finance & Insurance.
The four industries reporting decreased activity from October to November are: Educational Services; Accommodation & Food Services; Construction; and Public Administration.
ISM's Non-Manufacturing New Orders Index increased to 57.1 percent in November from the 56.5 percent registered in October. This indicates continued expansion of new orders at a faster rate than in October. Comments from members include: "Typically busy time of year" and "Low unemployment rate and higher demand for supply chain and contract administrators."
Employment activity in the non-manufacturing sector increased at a slightly faster rate in November compared to October. This was the 28th consecutive monthly increase in non-manufacturing employment.
Related discussion around the web:
- Services growth rises: ISM survey - Reuters
- US ISM Service Index Rose to 58.9 in November From 57.1 - Bloomberg
- US Nov ISM services index rises to 58.9, highest since May - MarketWatch
- FOREX-Dollar rises after jump in ISM-services data - FXstreet.com The Futures Market