Published: 2024-12-03T15:34:03.000Z
Preview: Due December 4 - U.S. November ISM Services - Correcting from a strong October
Senior Economist , North America
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We expect November’s ISM services index to correct lower to a still strong 55.5 from October’s 56.0 outcome that was the highest since August 2022.
The S and P services PMI was stronger at 57.0, but regional service surveys were mixed, with the Philly Fed’s weaker but Dallas and Richmond Fed data stronger.
Looking at the four components that make up the ISM services composite, we expect new orders and business activity to improve, both to 58.0, but corrections lower in employment and delivery times from October improvements. Prices paid do not contribute to the composite. Here we expect little change at 58.0 from 58.1. Trend as had little direction for over a year.
