US S&P Global November global final services PMI 50.8 vs 50.8 prelim

<ul><li>Prelim was 50.8</li><li>Prior was 50.6</li><li>Composite PMI 50.7 vs 50.7 prelim</li><li>Prior composite PMI 50.7</li><li>input cost inflation eased to the slowest in over three
years (likely fuel)</li><li>Output prices rose at a quicker pace, to the fastest since July</li><li>New orders returned to growth</li></ul><p>Aside from prices, this survey is in a nice spot for the soft-landing scenario.</p><p>The ISM services survey is due at the top of the hour.</p><p>Chris Williamson, Chief Business Economist at S&amp;P
Global Market Intelligence, said:
</p><blockquote>"The latest PMI data point to a further cooling of inflation
pressures, but the surveys also signal only modest
economic growth and near-stagnant employment, with
the risk of the expansion losing further momentum as
we head towards 2024.
</blockquote><blockquote>"While service sector businesses continued to report
further output gains in November, growth remains
considerably weaker than seen earlier in the year, and
forward-looking indicators point to growth slowing in the
months ahead.
</blockquote><blockquote>"Firms providing both goods and services have become
increasingly concerned about excessive staffing levels in
the face of weakened demand, resulting in the smallest
overall jobs gain recorded by the survey since the early
pandemic lockdowns of 2020.
</blockquote><blockquote>"The cooling jobs market has been accompanied by
lower wage growth which, combined with recent oil
price falls, helped pull business cost growth down to its
lowest for three years, dropping in November to a level
indicative of inflation approaching the Fed's 2% target
in the coming months."</blockquote>

This article was written by Adam Button at www.forexlive.com.