Growth in the US service industries UU It cools from a maximum of 12 years



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Growth in the US service industries UU It cooled more than expected in November after the fastest expansion since 2005, as orders relaxed and supply chains normalized after two hurricanes, according to a survey by the Supplies Management Institute.

Manufacturing (November)

  • The non-manufacturing index fell to 57.4 (est. 59) from 60.1; readings above 50 indicate growth
  • The index of supplier deliveries fell to 54 from the reading of October 58 which coincided with the highest reading since November 2005
  • The measure of commercial activity decreased to 61.4 from 62.2; indicator of new orders fell to 58.7 from 62.8
  • 16 industries reported growth in November, led by retailers and wholesalers

Key Takeaways

November's withdrawal shows that services are being established at a more sustainable pace, although weaker than the badysts expected for the month. Even with the slowdown, which follows an increase in activity related to hurricanes, the index is above the average of 57 for this year through October.

The four-point drop in the group's supplier delivery index was the largest since the end of 2015, which shows that service providers are making progress after the hurricanes interrupted schedules and delayed work in the two months before Now, delivery times are improving as the supply chain returns to normal.

The report compares with a smaller drop in the latest ISM factory survey, which showed that manufacturing expanded at a healthy pace in November amid an explosion in production and increasing orders.

The service sector covers sectors such as retail, public services, medical care and construction, and represents approximately 90 percent of the economy. The measure of business activity of the group, which is parallel to the production index of the ISM factory, has expanded for 100 consecutive months.

Official opinion

"Still confident that the year will end strong," Anthony Nieves, president of the non-manufacturing ISM survey, said in a conference call with reporters. This rate of growth will continue for the rest of the year and "should continue until January."

Other details

  • The employment index fell to 55.3 from 57.5
  • The indicator of paid prices decreased to 60.7 from 62.7 [19659004] The measure of the pending orders was reduced to 51.5 from 53.5
  • The measure of export orders fell to 57 from 60

– With the help of Alexandre Tanzi

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