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Flash US services PMI prints at lowest level since April

FXStreet (London) - The seasonally adjusted Markit Flash U.S. Services PMI Business Activity Index registered 56.3 in November, down from 57.1 in the previous month and the lowest reading since April.

The print was lower than consensus expectations of a smaller decline to 56.8.

In addition, the index has now pointed to softer growth of business activity in each of the past five months, to signal a sustained loss of momentum since the post-crisis peak seen in June.

The Markit survey reported that weaker service sector output growth largely reflected a moderation in new business gains during November. The latest rise in incoming new work was the slowest for seven months and slightly less marked than the average seen since the survey began in October 2009. Markit reported that some survey respondents commented on weaker client confidence and associated delays to the launch of new projects.

United States Markit PMI Composite down to 56.1 in November from previous 57.2

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