US Services Growth Slows Amid Inflation Concerns and Economic Uncertainty

The Services PMI® for November 2024 registered at 52.1%, indicating continued expansion in the U.S. services sector for the fifth consecutive month, though at a slower rate than October's 56%. Key indices such as Business Activity and New Orders also showed growth, albeit at reduced levels compared to the previous month. The Employment Index remained in expansion territory, while Supplier Deliveries indicated faster performance. Despite the overall positive trend, concerns about tariffs and election outcomes were noted by respondents, affecting future outlooks in various industries.