Markit services PMI rises more than expected

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Markit Economics' services purchasing manager's index (PMI) came in at 53.9 for December, topping economists' forecasts.

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A preliminary survey had put the index at 53.4 for December. A PMI reading above 50 shows that the sector is still in expansion.

The services sector accounts for most job creation in the US and makes up about two-thirds of all economic output.

At 10 a.m. ET, the Institute of Supply Management will release its non-manufacturing composite index, which is forecast at 56.8, down from 57.2 in November.

More to come ...

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