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(RPT)MNI INTERVIEW:ISM Services Consistent With Below Trend Growth

(MNI) WASHINGTON
(MNI) Washington

U.S. services will continue to see moderate growth, ISM services chair says.

U.S. service sector activity remains consistent with below-trend economic growth despite a pickup in November, and will likely stay moderate for the foreseeable future, Institute for Supply Management chair Anthony Nieves told MNI.

"With what the composite is right now, that would be 1% growth annualized," he said. "I think we're going to stay here and I don't think we're going to break past the mid 50s anytime soon but overall composite will continue to get a little better than just sideways here."

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U.S. service sector activity remains consistent with below-trend economic growth despite a pickup in November, and will likely stay moderate for the foreseeable future, Institute for Supply Management chair Anthony Nieves told MNI.

"With what the composite is right now, that would be 1% growth annualized," he said. "I think we're going to stay here and I don't think we're going to break past the mid 50s anytime soon but overall composite will continue to get a little better than just sideways here."

Keep reading...Show less