Bloomberg Businessweek (12/04/13) Michelle Jamrisko; Victoria Stilwell
The Institute for Supply Management’s nonmanufacturing index fell to 53.9 this month from 55.4 in October. Economists surveyed by Bloomberg had predicted a fall to 55. Readings above 50 indicate expansion.
A slowdown in hiring and business activity caused the index to decline. Meanwhile, new orders for the service industries held steady.