Service Sector Grew in November

Reuters

The U.S. services sector grew for an 11th straight month in November and employment in the sector rose, according to an industry report released on Friday.

The Institute for Supply Management said its services index rose to 55.0 last month, its highest level since May, from 54.3 in October. That was a touch above the 54.8 median forecast of 58 economists surveyed by Reuters. The employment component rose to 52.7 from 50.9 in October.

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A reading above 50 indicates expansion in the non-manufacturing sector.

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