US service sector expansion slows in November

Posted 12/3/20

SILVER SPRING, Md. (AP) — The U.S. services sector, where most Americans work, registered its sixth consecutive month of expansion in November.

The Institute for Supply Management reported …

To Our Valued Readers –

Visitors to our website will be limited to five stories per month unless they opt to subscribe.

For $5.99, less than 20 cents a day, subscribers will receive unlimited access to the website, including access to our Daily Independent e-edition, which features Arizona-specific journalism and items you can’t find in our community print products, such as weather reports, comics, crossword puzzles, advice columns and so much more six days a week.

Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.

Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.

Sincerely,
Charlene Bisson, Publisher, Independent Newsmedia

Please log in to continue

Log in
I am anchor

US service sector expansion slows in November

Posted

SILVER SPRING, Md. (AP) — The U.S. services sector, where most Americans work, registered its sixth consecutive month of expansion in November.

The Institute for Supply Management reported Thursday that its index of services activity declined slightly to a reading of 55.9 last month, from a reading of 56.6 in October. Readings above 50 represent expansion in services industries such as restaurants and bars, retail stores and delivery companies.

Business activity declined slightly as did new orders, but both remained in expansion territory.

The index measuring employment increased to 51.5, from 50.1, which was very close to contraction last month.

The gauge for prices also increased from October.

Out of the 18 service sector categories, 14 reported growth in November.

The services sector had been growing for 122 consecutive months — more than a decade — before contracting in April and May as the coronavirus outbreak forced many businesses to close and people to stay home.

Comments