US Services Sector Slows in November, Business Activity Growth Sluggish

📆 2024-12-06 오전 1:05:00
📰 TheManilaTimes

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US Services Sector,Institute For Supply Management,Business Activity

The US services sector experienced slower growth in November according to the Institute for Supply Management's survey. While still expanding for a fifth consecutive month, indexes for business activity, employment, and new orders all showed slight declines. Businesses are cautious about the potential impact of the U.S. presidential election and shifts in trade policy.

WASHINGTON, D.C. — Activity in the US services sector grew more slowly in November, as shown by a survey from the Institute for Supply Management (ISM). The ISM services index dropped to 52.1 percent from 56.0 percent in October. Despite this, the sector has been expanding for five consecutive months. Business activity, new orders, and employment all saw a slight decline, with the business activity index at 53.7 percent, employment index at 51.5 percent, and new orders index at 53.7 percent.

The survey also highlighted concerns among businesses about the impact of the U.S. presidential election on specific industries. Economists noted that while the overall reading suggests sustained consumer spending, particularly on services, potential shifts in trade policy could complicate matters

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