US Services Activity Expands at Fastest Pace in Nine Months (3)

US services activity expanded at a slightly faster pace in November, while a measure of prices paid dropped to a seven-month low.

The Institute for Supply Management’s index of services edged up 0.2 point to a nine-month high of 52.6, the group said Wednesday. Readings above 50 indicate expansion in the largest part of the economy.

The ISM’s index of prices paid for services and materials showed the slowest growth in seven months. While still historically high, the figure indicates some easing of inflationary pressures.

The overall services gauge was underpinned by a lengthening of supplier ...