Mumbai, Dec. 4 -- Service sector activity in the U.S. unexpectedly grew at a slightly faster rate in the month of November, according to a report released by the Institute for Supply Management on Wednesday.
The ISM said its services PMI inched up to 52.6 in November after climbing to 52.4 in October, with a reading above 50 indicating growth. Economists had expected the index to edge down to 52.1.
With the unexpected increase, the services PMI reached its highest level since hitting 53.5 in February.
The uptick by the headline index came amid a modest increase by the business activity index, which crept up to 54.5 in November from 54.3 in October.
The employment index also rose to 48.9 in November from 48.2 in October. While still in c...