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The Institute for Supply Management released its non-manufacturing purchasing managers' index for the U.S. on Thursday. The index dropped to 55.9 in November from 59.1 in October, missing expectations for a decrease to 58.0.
A reading above 50 indicates a growth in the service sector.
The decrease was mainly driven by declines in the business activity, new orders, and employment sub-indexes.
The ISM's new orders index decreased to 57.5 in November from 62.0 in October.
The business activity/production index slid to 58.2 in November from 63.0 in October.
The ISM's employment index was down to 55.0 in November from 59.2 in October.
The prices index climbed to 50.3 in November from 49.1 in October.
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