FYI: Although the pace of growth in the manufacturing sector slowed in November, activity in the non manufacturing sector saw a nice rebound. In this month's ISM Non Manufacturing report, the headline index rose to 59.3 from last month's reading of 57.1, handily surpassing the consensus forecast of 57.5. Additionally, this month's report was the second highest reading of the expansion, trailing only the 59.6 reading we saw last August. On a combined basis, the ISM reading for November hit a level of 59.2, which was up 1.9 points from last month's reading of 57.3. That was also the second largest reading of the recovery.
Regards,
Ted
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