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US non-manufacturing growth slows in Nov

CNC
Added On December 7, 2017

U.S. non-manufacturing activity expanded at slower pace in November, as orders and employment cooled from the previous month.
   
November's Non-Manufacturing Index - or NMI - which measures the activity in the U.S. service sector, dropped 2.7 points from October, to hit 57.4.
   
While lower, it is still comfortably above 50 point mark which indicates expansion.
   
Meanwhile the business activity index edged down 0.8 points to 61.4; the new orders index dropped 4.1 points to 58.7; and the employment index fell 2.2 points to 55.3 in November.
   
Of the 18 industries tracked by the Institute for Supply Management, 16 industries reported growth, while only agriculture, forestry, fishing and hunting industry reported contraction.
   
Respondents of the survey say they believe the economy and sector will continue to grow for the remainder of the year.