Afternoon Coffee: Services Sector Grows in December, Factory Orders Decline

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The Institute for Supply Management’s Non-Manufacturing Index shows economic activity in the services sector grew in December. The NMI registered 55.3% for the month, 0.6% lower than the November index, but still representing growth in the sector.

U.S. factory orders declined 0.2%, however, in November after rising 1.3% in October, according to the Commerce Department. Orders for durable goods in November were also flat.

Apple is ordering fewer iPhones and component suppliers of the devices are now expecting lower sales. Foxconn Technology Group in China, which assembles iPhones, made layoffs and had idle capacity during November and December.

The U.S. attorney for the Central District of California issued Chipotle a subpoena for information related to the recent outbreak of norovirus linked to a Chipotle location in Simi Valley, California.

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