U.S. Services Sector Slows

Washington, Safar 21, 1437, Dec 3, 2015, SPA– U.S. services firms grew again last month but at the slowest pace since May, an industry group said Thursday.
The Institute for Supply Management (ISM) reported that its services index dropped to 55.9 last month from 59.1 in October. The November reading was the lowest since May’s 55.7. Still, any reading above 50 signals that services firms are expanding.
The survey registered slower growth last month for business activity, new orders, and employment in the services sector.
Services have been a source of strength in the economy this year. Services firms have added 2.5 million jobs since October 2014, which is 89 percent of jobs created over that period, according to the Labor Department.

–SPA
19:49 LOCAL TIME 16:49 GMT