WASHINGTON – The US service industry showed signs of resilience in November, with business conditions improving from a five-month low, according to the latest ISM report released today. The ISM business conditions gauge for service sectors rose to 52.7% last month, surpassing market expectations and indicating economic expansion.
This rebound was supported by growth in fifteen industries, with transportation and warehousing exhibiting strong activity.
The report also highlighted that new orders remained robust at 55.5%, suggesting steady demand for services. Meanwhile, input prices saw a minor decline to 58.3%, offering some relief from persistent inflationary pressures. Notably, the employment index inched higher to 50.7, signaling ongoing job creation which could influence the Federal Reserve’s policy decisions.
In response to the economic data, financial markets showed a mixed reaction today with stocks opening lower and a slight fall in the to 4.17%.
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