Economic activity in the US nonmanufacturing sector expanded in November at a slower rate than in October, according to the Institute for Supply Management’s nonmanufacturing index, released today. ISM’s nonmanufacturing index fell in November to a reading of 57.4 from October’s reading of 60.1.

November’s reading represents continued growth in the nonmanufacturing sector but at a slower rate.

Any reading above 50% generally indicates improving conditions.

Additionally, the employment portion of the index decreased to a reading of 55.3 in November from 57.5 in October.

Bloomberg reported the November retreat shows services are settling back to a more sustainable pace, though a weaker one than analysts were expecting for the month. Even with the slowdown, which follows a hurricane-related surge in activity, the index is above the 57 average for this year through October.