HFE chief economist Jim O'Sullivan....>

US DATA REACT: HFE chief economist Jim O'Sullivan said today's

"non-manufacturing ISM index fell to 57.4 in Nov from 60.1 in Oct and that was

below the 59.0 consensus (and our forecast) but it was still a fairly high

level." He noted, "The level remains up from 56.9, on average, in the first half

of this year and 54.9 last year."

- He added "within the index, orders fell to 58.7 from 62.8, business activity

to 61.4 from 62.2, employment to 55.3 from 57.5 and supplier deliveries to 54.0

from 58.5.and the separately reported prices paid index fell to 60.7 from 62.7."

He stated that "the manufacturing index also declined a bit in Nov. and

combining the two sets of data, our estimated economy-weighted composite ISM

index fell to 57.5 from 59.9; that measure averaged 56.8 in H1 and 54.5 in

2016."