EmailThe ISM Non-manufacturing Survey declined from 52.9 in October to 52.0 in November.
The Briefing.com consensus expected the index to expand to 53.4. The drop in the index was mainly the result of an unexpected contraction in non-manufacturing employment. Even though the employment index fell from 53.3 in October to 48.9 in November, the November jobs report already refuted the ISM results and revealed a 140,000 gain in private payrolls.
In a more telling sign of the economy, business activities increased from 53.8 in October to 56.2 in November. New orders were also up from 52.4 to 53.0. Order backlogs contracted for the second consecutive month, but the rate of contraction slowed as the respective index increased from 47.0 in October to 48.0 in November.
