Service Sector Activity Holds Steady In November

Markit's latest services PMI reading came in at 56.2, just below expectations and the flash reading, but indicating steady expansion in the services sector.

Expectations were for the reading to come in at 56.5, up slightly from the preliminary 56.3 reading seen earlier this month.

Wednesday's report showed that output and new business volumes in the services sector expanded at the slowest pace in seven months, but payroll increases and the rate of job creation accelerated in November.

The flash reading showed activity in the service sector expanded at its slowest pace since April.

More to come ...