US service sector activity slowed in November. Markit's flash US service sector PMI came in at 56.3, missing expectations. Expectations were for Markit's flash reading to come in at 57.3, up slightly from last month's 57.1. This is the lowest reading for the index since April. Commenting on the report, Chris Williamson, chief economist at Markit, said, "A fifth-consecutive monthly slowing in growth in the service sector adds to signs that the economic upturn has lost considerable momentum." Williamson added that, "it's important to note that the pace of expansion remains robust by historical standards." In its release, Markit said, "Weaker service sector output growth largely reflected a moderation in new business gains during November.
Service Sector Activity Expands At Slowest Pace Since April
Myles Udland, Business Insider
Mon, 11/24/2014 - 7:39am
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