Tempe, AZ, December 5, 2005 --Activity in the services sector accelerated at a slightly slower pace in November, the Institute for Supply Management said Monday.
The ISM nonmanufacturing index fell to 58.5% in November from 60% in October. Economists were expecting decline to about 59.2%. The new orders index rose to 59.5% from 58.2%, while the prices paid index fell to 74.2% from 78%. Readings over 50% indicate a plurality of purchasing managers at firms across the nation reported increased activity.
"There is still significant concern about the relatively high level of energy prices and its impact on freight costs and on the prices of other materials and services," ISM said.
