PhotoThe non-manufacturing sector of the economy rebounded in November after a slight cooling-off the month before.

The latest Non-Manufacturing Institute for Supply Management Report On Business put the non-manufacturing index (NMI) at 57.2% last month -- 2.4% higher than in October.

This represents continued growth in the non-manufacturing sector for the 82nd consecutive month and at a faster rate than in October. It's also a 12-month high and the highest reading since the 58.3 registered in October of 2015.

The Non-Manufacturing Business Activity Index increased to 61.7% -- 4% higher than October, reflecting growth for the 88th consecutive month and a faster rate in November.

The New Orders Index dipped 0.7% to 57%, and the Prices Index decreased 0.3% from October to 56.3%. Still, prices rose in November for the eighth consecutive month, but at a slightly slower rate.

The Employment Index increased 5.1% to 58.2%.

Individual industry performance

The 14 non-manufacturing industries reporting growth in November were:

  1. Agriculture, Forestry, Fishing & Hunting;
  2. Retail Trade;
  3. Arts, Entertainment & Recreation;
  4. Transportation & Warehousing;
  5. Other Services;
  6. Management of Companies & Support Services;
  7. Construction;
  8. Finance & Insurance;
  9. Professional, Scientific & Technical Services;
  10. Accommodation & Food Services;
  11. Information;
  12. Health Care & Social Assistance;
  13. Wholesale Trade; and
  14. Mining.

The two industries reporting contraction were:

  1. Real Estate, Rental & Leasing; and
  2. Public Administration.

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