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