Unexpected acceleration for the Ism services index in November. The indicator compiled by the Institute for Supply Management increased to 56.5 points from 54.4 in October, against an average analyst estimate of 53.5 points.
The firmer-than-expected reading contrasts with the deterioration of the ISM manufacturing index, which fell below the 50-point threshold (which separates contraction and expansion) last week for the first time since May 2020.
The data on the ISM services reinforces the idea of a still resilient US economy and fuels speculation on the fact that the Federal Reserve will maintain its restrictive policy for some time to come in order to counter inflation.