The Institute for Supply Management’s non-manufacturing business activity composite index was 37.3 in November on a seasonally adjusted basis, down from 44.4 in October, the group said yesterday.
Economists polled by Thomson Reuters had expected a 43.0 level.
The business activity index fell to 33.0 from 44.2. The prices paid index, closely watched for signs of inflation, slid to 36.6 from 53.4. The employment index decreased to 31.3 from 41.5
"Folloing recent yield moves, a generic muni index is now down 1% on the month with no real sub-sector showing much deviation from that result," said Kim Olsan, senior vice president of trading at FHN Financial.
The law firm revealed 2024 promotions.
As the nation's fourth largest city faces a growing structural budget deficit, it is also expecting to issue more than $3 billion of debt for its airport, water and sewer system, convention center, as well as to fund a settlement with firefighters and for cash-flow purposes.
The extension of the current solar net metering system could lower revenue for the utility.
The finance team is "marketing slices of risk" to raise money to refinance its debt, investors said.
John Fleming is pushing back against a proposal in the state Legislature to change the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.
