US: ISM Services PMI rose to a record 69.1 in November vs. 65.0 expected

Headline ISM Service PMI rose to 69.1 in November.
That marked a record-high going back to 1997 when the survey began.

Joel Frank Independent Analyst

The Institute of Supply Management's headline Services PMI index rose to a fresh record high at 69.1 in November versus forecasts for a modest fall to 65.0 from 61.9 in October.

Subindices

The Business Activity index rose to 74.6 from 69.8 in October.
The Prices Paid index fell to 82.3 from 82.9 in October.
The New Orders index held steady at 69.7 in November.
The Employment index rose to 56.5 from 51.6 in October.

Market Reaction

The US dollar got further tailwinds in wake of the strong ISM report, with the DXY pushing to fresh session highs in the 96.30s.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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