US: Service sector output expansion softens to 5-month low - Markit

"November survey data signalled a slower rate of expansion in business activity across the US service sector," the IHS Markit announced on Tuesday. 

Key highlights

The seasonally adjusted IHS Markit U.S. Services Business Activity Index registered 54.5 in November, down from 55.3 in October. 

New orders received by service providers continued to rise in November, with the pace of expansion accelerating from October’s six-month low. 

Alongside an increase in new orders, firms reported that greater business requirements had led to employment growth. 

Average prices charged for services increased further in November, with the rate of inflation accelerating.