WASHINGTON, Dec. 5 (Xinhua) -- The U.S. non-manufacturing sector expanded for the 35th straight month in November and the growth pace also accelerated, a widely-recognized private survey showed on Wednesday.
The Non-Manufacturing Index (NMI), which measures activity in the U.S. service sector, rose to 54.7 percent, up 0.5 percentage points from October, the Institute for Supply Management (ISM) said in its monthly survey.
The NMI survey covers all sectors outside of manufacturing. A reading above 50 indicates expansion of the service sector.
The index showed that new orders, a signal of future business, rose from 54.8 to 58.1 in November, while the survey's employment component decreased by 4.6 percentage points to 50.3.
A total of 11 industries including retail trade and construction reported growth in November, while six other industries including mining and wholesale reported contraction, said the ISM.
The NMI is closely watched because the service sector absorbs about 90 percent of the U.S. workforce, and is a key indicator for the overall health of the economic recovery.
|
