“The seasonally adjusted IHS Markit Flash U.S. Services PMI Business Activity Index dropped from 54.8 in October to 54.4 in November,” the IHS Markit reported on Friday.
Key highlights
- The latest reading nonetheless was well above the 50.0 no-change value and signalled a robust upturn in service sector activity.
- In contrast to the resilient trend seen for business activity, new work expanded at a much slower pace than in October.
- The rate of job creation was the softest since June 2017.
- Latest data pointed to a moderation in cost pressures faced by service sector companies.
Share
