U.S. services sector contracts for first time in two months

Sales from services in the U.S. fell for the first time in two months, according results of a survey of business executives from the Institute for Supply Management.

Respondents' comments remain cautious about business conditions and reflect concern over the length of time for economic recovery, said Anthony Nieves, the head of the Institute's service sector survey committee.

Six of 17 industries reported growth, according to the survey.

ISM's Non-Manufacturing Index was down 1.9 percent in November at48.7, compared with 50.6 in October. Readings under 50 indicate contraction.

Business activity and New Orders indices were also lower.

Industries reporting growth in order (6 of 17):

Other Services

Health Care & Social Assistance

Construction; Finance & Insurance

Retail Trade

Information

Industries reporting contraction in order (11 of 17)

Real Estate

Rental & Leasing