The US composite index is 54.9, less than the flash estimate (55.3) but more than October's final (54.1). This indicates that while growth for the sample accelerated in November compared to October, the latter half of November underperformed when compared to the earlier half of the month.

The US services index for November is well above the 50-growth threshold. At 56.1, it is less than the flash estimate (57.0) but still higher than October's final (55.0). As with the PMI composite index, growth for the sample accelerated in November compared to October, the latter half of November underperformed when compared to the earlier half of the month. Still, this is the fastest expansion since March 2022. Largely due to the largest rise in new businesses in just over two and a half years.

Some firms indicated that the result of the Presidential Election, leading to an end of the uncertainty around the elections allowed customers to commit to new orders. In other cases, lower interest rates contributed to the rise in new business. Employment decreased for the fourth month in a row, albeit at a softer pace.

Output prices slowed, easing to the weakest point in two and a half years. Although some companies increased selling prices in response to higher costs, others lowered charges amid
competitive pressures.

Business confidence remained high in November and with good reason. The US RPI stands at plus 24 and RPI-P stands at plus 25, overall economic activity is moderately outperforming market forecasts.

No revision is expected for the composite at 55.3 and services at 57.0.

US Services Purchasing Managers' Index (PMI) is based on monthly questionnaire surveys collected from over 400 U.S. companies which provide a leading indication of what is happening in the private sector services economy. It is seasonally adjusted and is calculated from seven components, including New Business, Employment and Business Expectations.

Investors need to keep their fingers on the pulse of the economy because it indicates how various types of investments will perform. The Markit Services PMI provides advance insight into the services sector, which gives investors a better understanding of business conditions and valuable information about the economic backdrop of various markets. The stock market likes to see healthy economic growth which generally translates to higher corporate profits. The bond market prefers less rapid growth and is extremely sensitive to whether the economy is growing too quickly and causing potential inflationary pressures. The PMI data are also used by many Central Banks to help make interest rate decisions.

The IHS Markit Services Flash data give a detailed look at the services sector, the pace of growth and the direction of this sector. Since the service sector accounts for more than three-quarters of U.S. GDP, this report has a significant influence on the markets. In addition, its sub-indexes provide a picture of new business, employment, business expectations and prices.