US: ISM suggests service-sector activity is holding up better than manufacturing – Wells Fargo – by MSalordFX UnitedStates Growth Banks
into expansion territory, wait times shortened and prices came down slightly. As a negative, they see a drop in orders sullied, an otherwise“A surge in business activity lifted ISM services to a consensus-defying print of 56.5 in November. Employment crossed back into expansion territory, wait times shortened and prices came down slightly. Only a drop in orders sullied an otherwise encouraging report for the service sector.
“The only headline-feeding decline was in the new orders component, though this should not be glossed over. This key leading indicator slid for the fourth-consecutive month to 56.0. This still marks expansion but is consistent with lost momentum and could foreshadow a more significant slowdown is yet to come.”
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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