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ISM Services Index Slips but Shows Continued Expansion An index of the U.S. economy's service sector declined in November but showed overall continued expansion, the Institute for Supply Management reported.
ISM's monthly services index slipped to a reading of 52, from 52.9 in October. Figures greater than 50 indicate expansion.
Economists had forecast the index would rise to 53.9, Bloomberg reported.
The index averaged 56.1 in the five years prior to the recession that began December 2007.
ISM's services index measures non-manufacturing components of the economy, and the services sector, which includes transportation, retail sales and financial services, accounts for nearly two-thirds of the U.S. gross domestic product. |
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Oil Holds Over $100 a Barrel
Oil held over $100 a barrel for a sixth trading day Wednesday as inventories rose last week, Bloomberg reported. Crude futures slipped 79 cents to finish the trading day at $100.49 a barrel, after earlier in the day topping $101 per barrel, Bloomberg said.
The Department of Energy, meanwhile, said Wednesday that inventories of crude oil, gasoline and distillates all rose last week.
Crude stockpiles rose 1.3 million barrels for the week ended Saturday, in contrast to a 1.3 million barrel decline forecast by analysts, Bloomberg said.
Distillate inventories, which include diesel, gained 2.5 million barrels and gasoline supplies jumped 5.2 million barrels, DOE said in its weekly report.
Oil has closed over the $100 mark every day since Wednesday. Prior to that, the only time futures finished over that level since was on Nov. 16, when they closed |
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Decorated Mack Truck Delivers Capitol Christmas Tree to Washington, D.C.
A festively decorated Mack truck embarked on a three-week journey to deliver the Christmas tree that will brighten the U.S. Capitol grounds this holiday season.
The journey began on November 5th, with a SmartWay-certified Pinnacle sleeper, provided by Mack Trucks Inc., the 2011 Capitol Christmas tree was on a cross-country tour from California to the nation's capital that delivered holiday cheer at events along the way.
The tree, a 65-foot white fir from Stanislaus National Forest in California, was delivered on November 28th in Washington, D.C., where it was lighted at a Dec. 6 ceremony hosted by Speaker of the House John Boehner (R-Ohio). |
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Email: craig@rtlusa.com |
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