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US Services PMI at 56.5%; November 2022 Services ISM Report On Business
Economic activity in the services sector grew in November for the 30th month in a row — with the Services PMI® registering 56.5 percent — say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. 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 56.5 percent, 2.1 percentage points higher than October's reading of 54.4 percent. The Business Activity Index registered 64.7 percent, a substantial increase of 9 ... (full story)
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US: ISM Services PMI improves to 56.5 in November vs. 53.1 expected
The business activity in the US service sector continued to expand at an accelerating pace in November with the ISM Services PMI rising to 56.5 in November from 54.4 in October. This reading came in better than the market expectation of 53.1. The inflation component of the survey, the Prices Paid Index, declined to 70 from 70.7, compared to analysts' estimate of 73.6. The Employment Index rose to 51.1 from 49.1 and the New Orders Index edged lower to 56 from 56.5. Commenting on the data, "based on comments from Business Survey Committee respondents, increased capacity and shorter lead times have resulted in a ... (full story)
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