ISM services index rises to 54.7% in November

WASHINGTON (MarketWatch)
The U.S. services sector grew at a slightly faster pace in November, according to the Institute for Supply Management
The ISM said its survey of purchasing managers - the executives who buy supplies for their companies - rose to 54.7% last month from 54.2% in October
Economists surveyed by MarketWatch had expected the index to drop to 53.0%
Reading over 50% indicate more manufacturers are expanding instead of shrinking
Thirteen of the 18 industries tracked by Tempe, Ariz.-based ISM reported growth last month, the same as in October
The ISM's new-orders index jumped 3.3 points to 58.1% and production climbed 5.8 points to 61.2%, but the employment gauge dropped 4.6 points to 50.3%