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US Services Sector Surveys Shrug Off 'Hard' Data Hemorrhaging In November
Following weakness in the Manufacturing survey data, Services surveys were expected rebound in November, despite the plunge in 'hard' data seen in November. S&P Global's Services PMI ticked up in November to 50.8 from 50.6 in October (flat from the flash print) ISM's Services PMI beat expectations, rising from 51.8 to 52.7 (vs 52.3 exp) in November. Under the hood, Employment rose less than expected; New Orders were flat ; and Prices Paid declined... chart “Fifteen industries reported growth in November," noted Anthony Nieves, Chair of the ISM Services Survey Committee. "The Services PMI, by being above 50 ... (full story)