JP Morgan economist Jesse Edgerton....>

US DATA REACT: JP Morgan economist Jesse Edgerton said "both the ISM and the

Markit services PMIs fell somewhat short of expectations this morning." He noted

that "the headline business activity index in the Markit report fell to 54.5 in

its final reading from 55.3 in October and 54.7 in the November flash report,

while the ISM nonmanufacturing composite index fell from 60.1 in October to 57.4

in November."

- He added too that "some of the decline in the ISM was driven by the supplier

deliveries index." He stated, "But some of the other key indexes also declined,

with new orders down from 62.8 to 58.7, employment from 57.5 to 55.3, and

business activity from 62.2 to 61.4. Nonetheless, these indexes generally remain

at high levels, consistent with solid growth."