US: ISM Services PMI improves to 56.5 in November vs. 53.1 expected – by eren_fxstreet PMI EconomicIndicator UnitedStates Macroeconomics
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 continued improvement in supply chain and logistics performance," said Anthony Nieves, Chair of the Institute for Supply Management Services Business Survey Committee. "A new fiscal period and the holiday season have contributed to stronger business activity and increased employment.
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