US ISM Services rose from 66.7 to 69.1 in November, above expectation of 65.5. Business activity/production rose from 69.8 to 74.6. New orders was unchanged at 69.7. Employment rose from 51.6 to 56.5. Prices dropped from 82.9 to 82.3. Employment rose from 51.6 to 56.5.
ISM said: “The past relationship between the Services PMI and the overall economy indicates that the Services PMI for November (69.1 percent) corresponds to a 6.9-percent increase in real gross domestic product (GDP) on an annualized basis.”