08:41 AM EST, 11/26/2024 (MT Newswires) -- The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index fell to minus 5.9 in November from 6.0 in the previous month, indicating a return to contraction in the sector.

The index is in line with the New York Federal Reserve's services measure but in contrast with the Kansas Fed and the S&P Global Flash estimates that suggested expansion.

The readings for new orders, prices, employment and sales all decreased in the month, though only the reading for new orders moved below the breakeven point.

The six-month outlooks at both the regional and firm levels increased, with 52.6% of respondents expecting expansion in the region over the next six months, compared with only 5% that expect contraction.