Non-manufacturing activity in November turns in another solid performance

Non-manufacturing activity in November maintained the solid pace it has been on over the last several months, according to the Institute for Supply Management’s (ISM) Non-Manufacturing Report on Business.

The index ISM uses to measure non-manufacturing growth—known as the NMI—came in at 59.3 (a reading above 50 represents growth) in November, which was 2.2 percent above October’s 57.1 and 3.3 percent above the 12-month average of 56. November was only 0.3 percent off of August’s 59.6, which stands as the highest NMI reading since it was added to the report in January 2008. Economic activity in the non-manufacturing sector has grown for the last 58 months, according to ISM.

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