Purchasing Manager's Index-Services, december 2015
Services PMI fell to 56.3 in November: Robust service sector
- The purchasing managers’ index for the service sector (Services PMI) fell to 56.3 in November from 57.4 in October. The confidence indicator was mainly slowed by business volumes, although the other sub-indices, with the exception of new orders, also contributed negatively. So far this year the Services PMI has averaged 56.2, compared with 56.4 for 2014. Even more optimistic production plans in November and rising business volumes, as well as new orders, suggest that the full-year 2015 will produce a solid growth rate.
- The sub-index for new orders rose by 0.5 points to 59.6 in November, contributing 0.2 points to the Services PMI. Compared with this past summer both new orders and order backlogs have improved, according to a three-month average. The index for order backlogs registered 51.2 in November.
- The sub-index for business volumes remains at a high level with a reading of 59.8 for November, down 2.4 points from October. At the same time the index for planned business volumes signaled rising optimism and the index registered 67.7. In line with rising actual and planned production, employment continued to increase. The employment sub-index reading was 51.3 in November.
- The index for suppliers’ intermediate goods prices rose from 52.1 to 52.8 in November. The reading, the third lowest this year, marked the sixteenth consecutive month in the growth zone.
PMI Services- December 2015