US ISM services dropped to 55.9, corresponds to 2.5% annualized growth in real GDP

<p>US ISM Services PMI dropped -0.7 to 55.9 in November, slightly below expectation of 56.0. Business activity dropped -3.2 to 58.0. New orders dropped -1.6 to 57.2. Employment rose 1.4 to 51.5. ISM said: “The past relationship between the Services PMI™ and the overall economy indicates that the Services PMI™ for November (55.9 percent) corresponds […]</p>
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