The U.S. services sector is holding on
Economists and fund managers are concerned about the services sector, which makes up around 70% of U.S. employment.
Driving the news: ISM's non-manufacturing PMI report released Wednesday showed a weaker-than-expected reading that was 5.4 points below October, but continued to expand with a reading above 50.
- It was the 124th consecutive month the index has shown growth.
Why it matters: Unlike the manufacturing sector, services data has disappointed but has yet to fall into contraction in the U.S. and much of the rest of the industrialized world.