The U.S. services sector grew at a nine-month high in November, and the price paid indicator fell to a more than half-year low

The Institute for Supply Management (ISM) announced on Wednesday that the U.S. services index edged up 0.2 points to a nine-month high of 52.6. A reading above 50 indicates the industry is expanding. The ISM Services & Materials Payment Prices indicator showed the slowest pace of growth in seven months. Although still at record highs, the figure indicates some easing of inflationary pressures. The overall services index was supported by longer delivery times for suppliers and further improvements in business activity. The Supplier Delivery Index rose 3.3 points to its highest level in more than a year. The increase may reflect tariff challenges faced by companies as they seek to source their products in a complex trade environment. The measure of business activity rose to a three-month high of 54.5. At the same time, order growth slowed from a one-year high. Services employment showed further signs of stabilizing. The employment gauge rose to a six-month high of 48.9, indicating a slowdown in the pace of job declines. Inventories expanded at the fastest pace in seven months, according to an ISM gauge. Despite this, indicators of inventory sentiment have moderated, indicating that fewer service providers believe their inventory levels are too high.