03:00 PM BST, United States - ISM Data for November:
- ISM Non-Manufacturing PMI: actual 52.6; forecast 52.0; previous 52.4;
- ISM Non-Manufacturing Prices: actual 65.4; previous 70.0;
- ISM Non-Manufacturing New Orders: actual 52.9; previous 56.2;
- ISM Non-Manufacturing Employment: actual 48.9; previous 48.2;
- ISM Non-Manufacturing Business Activity: actual 54.5; previous 54.3;
The November S&P Global US Services PMI signaled continued solid growth in the services sector, with the headline index at 54.1, indicating expansion but at a five-month low. New business rose at the fastest pace since late 2024 and firms increased hiring, supported by improved confidence after the government shutdown and expectations of stronger growth and lower interest rates ahead. However, input costs climbed at a six-month high, driven by higher labor costs and tariffs, and companies raised prices more quickly, posing a risk to further rate cuts. Overall, combined with strong manufacturing, the survey points to about 2.5% annualized GDP growth in Q4, led especially by robust financial services activity.
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