Posted 12/15/2023, 2:58:00 PM
U.S. Services Sector Rebounds in November while Manufacturing Slump Persists
- U.S. service sector grew faster in November, manufacturing sector remained in a slump
- Service sector PMI rose to 51.3, a 5-month high; manufacturing PMI fell to 48.2, a 4-month low
- Numbers above 50 signal growth, below 50 signal contraction
- Dual-track economy persisting - services flourishing but consumers cutting back on goods
- S&P economist Data indicates U.S. economy picked up momentum in December but still weak GDP growth expected in Q4