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U.S. Service Sector Accelerates in November

MarketWatch (12/05/12) Jeffry Bartash

U.S. service companies grew at a faster pace in November, marking the 35th consecutive month of expansion, according to the Institute for Supply Management. The ISM’s services index rose from 54.2% in October to 54.7% in November. A number above 50 indicates more companies are expanding rather than shrinking. Still, service companies have grown more reluctant to hire new employees. The employment gauge declined 3.3 points to 50.3%, the lowest level since mid-summer. Eleven of the 18 service sectors tracked by ISM reported growth, down from 13 in October.