US services sector retreated to lowest level in six months

The US Institute of Supply Management said today that the services PMI in the United States fell for the second month in a row to 55.9 points in November, compared to 56.6 points in October, its lowest level in six months. Analysts had expected the US service sector, which accounts for more than two-thirds of US economic activity, to decline to 56.0 points in November, and service activity in the United States remained below 57.3 points in February before the epidemic. The index of new orders for the services sector declined for the second month in a row to 57.2 points in November compared to 58.8 points in October, while the employment index rose to 51.5 points in November from 50.1 points in October.