The Insitute for Supply Management on Monday said its services index slowed to a reading of 52.0% in November -- the worst reading since Jan. 2010 -- from 52.9% in October.
Economists polled by MarketWatch anticipated a 54.0% reading.
The employment index dropped 4.4 points to 48.9%.
"Business activity continues to swing back and forth," said one purchasing manager in arts, entertainment and recreation.
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WASHINGTON (MarketWatch) -- New orders for U.S.-made factory goods declined by 0.4% in October after falling a downwardly revised 0.1% in September, the Commerce Department estimated Monday. The decline matched economists' median forecasts. Orders for durable goods fell 0.5%, revised up from a previous estimate of a 0.7% decline. Orders for nondurable goods fell 0.3%. Shipments of factory goods rose 1.6%, while inventories increased 0.4%. The inventory-to-shipments ratio remained at 1.33 for the fourth consecutive month. Orders for nondefense capital goods, excluding aircraft, fell 0.8%, better than the 1.8% decline estimated two weeks ago.
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