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  • U.S. services sector activity expansion slows slightly less than initially estimated in November - IHS Markit
Ekonomické zprávy
03.12.2021

U.S. services sector activity expansion slows slightly less than initially estimated in November - IHS Markit

The latest report by IHS Markit revealed on Friday the seasonally adjusted final IHS Markit U.S. Services Business Activity Index (PMI) came in at 58.0 in November, down from 58.7 in October but slightly above the earlier released “flash” estimate of 57.0. Although the pace of growth was faster than the series average, it was muted in comparison to the ones seen this year so far.

Economists had forecast the index to stay unrevised at 57.0.

According to the report, a modest decrease in the services PMI reflected impacts of supply and labor issues. The new business saw solid growth, with the rate of increase holding close to October’s three-month high. Employment rose at the fastest pace since June, despite the fact that services providers continued to struggle to work through backlogs of work, which rose at the second-quickest pace on record. On the price front, the rate of input price inflation accelerated to the highest since May and the second-sharpest on record, while the pace of increase in selling prices dropped slightly, easing from October's series record, but remained significant overall.

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