US: Services PMI posted 54.7 in November to signal slowest expansion since July - Markit

"The seasonally adjusted IHS Markit Flash U.S. Services PMI Business Activity Index posted 54.7 in November, down from 55.3 in October, to signal the slowest expansion of service sector output since July," IHS Markit announced on Friday.

Key takeaways

However, the latest rise in business activity remained stronger than seen in the first half of the year.

Service providers remain optimistic overall about their growth prospects for the next 12 months, although the degree of confidence eased slightly since October.

Input cost inflation accelerated from the sevenmonth low seen during October, which survey respondents linked to higher fuel and raw material prices (particularly food).

As a result, prices charged inflation also picked up in November, but remained softer than September’s three-year peak.