Service Sector Activity Slows In November
Kevork Djansezian / Getty Images
Markit's flash US service sector PMI came in at 56.3, missing expectations.
Expectations were for Markit's flash reading to come in at 57.3, up slightly from last month's 57.1.
This is the lowest reading for the index since April.
"Weaker service sector output growth largely reflected a moderation in new business gains during November. The latest rise in incoming new work was the slowest for seven months and slightly less marked than the average seen since the survey began in October 2009," according to Markit's release.
Markit added that, "Some survey respondents commented on weaker client confidence and associated delays to the launch of new projects."
Markit's flash reading comes ahead of what is a jam-packed three days for US economic data ahead of the Thanksgiving holiday.
More to come ...
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- PM Modi and Bill Gates discuss AI, climate change, millets and more
- Consuming excessive salt and inadequate potassium, protein is making North Indians prone to life-threatening diseases: Study
- Upcoming cars and two-wheelers launching in India in April 2024
- Ice melt in Antarctica and Greenland is slowing Earth's rotation, affecting timekeeping: Study
- Elections on a plate: Poll panels fix menu & expense ceiling for Samosa, tea, biryani & more