U.S. Service-Sector Growth Accelerates in November
06 December 2018 - 4:01PM
Dow Jones News
By Harriet Torry
The U.S. service sector expanded at a faster pace in November, a
sign of continued strength in the domestic economy.
The Institute for Supply Management's nonmanufacturing
purchasing-managers index rose to 60.7 in November from 60.3 in
October. Economists surveyed by The Wall Street Journal had
expected the index to fall to 59.0.
"Respondents remain positive about current business conditions
and the direction of the economy," said Anthony Nieves, chair of
the ISM nonmanufacturing business-survey committee, although he
said concerns persist about employment resources and the impact of
tariffs.
The survey provides a barometer for the nation's restaurants,
builders, bankers, and other service providers. Consumer spending
is the primary driver of the U.S. economy, and about two-thirds of
those outlays are on services.
Write to Harriet Torry at harriet.torry@wsj.com
(END) Dow Jones Newswires
December 06, 2018 10:46 ET (15:46 GMT)
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