U.S. service sector growth in November hits nine-month high, while payment price index falls to lowest level in over six months

Jinse Finance reported that the Institute for Supply Management (ISM) announced on Wednesday that the US Services Index rose slightly by 0.2 to a nine-month high of 52.6. A reading above 50 indicates the sector is in an expansion phase. The ISM Services and Materials Prices Paid Index showed the slowest growth rate in seven months. Although still at a historically high level, this figure suggests that inflationary pressures have eased. The overall Services Index was supported by longer supplier delivery times and further improvement in business activity. The Supplier Deliveries Index rose by 3.3 points to the highest level in over a year. This increase may reflect challenges faced by companies seeking product sources in a complex trade environment due to tariffs. The Business Activity Index rose to a three-month high of 54.5. Meanwhile, order growth slowed from a one-year high. Employment in the services sector showed further signs of stabilization. The Employment Index rose to a six-month high of 48.9, indicating a slower pace of job declines. According to an ISM indicator, inventories expanded at the fastest pace in seven months. Nevertheless, the Inventory Sentiment Index eased, indicating that fewer service providers believe their inventory levels are too high.