- U.S. services sector activity improves more than initially estimated in November - IHS Markit
Market news
3 December 2020
U.S. services sector activity improves more than initially estimated in November - IHS Markit
The latest
report by IHS Markit revealed on Thursday the seasonally adjusted final IHS
Markit U.S. Services Business Activity Index (PMI) stood at 58.4 in November, up
from 56.9 in October and higher than the earlier released “flash” estimate of 57.7.
The latest reading pointed to the sharpest expansion in the services sector since
March 2015.
Economists had
forecast the index to stay unrevised at 57.7.
According to
the report, a marked increase in business activity across the U.S. service
sector was attributable to the rises in output and new business, which
accelerated to the fastest since March 2015 and April 2018, respectively.
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