Dec 5, 2019 - Economy

The U.S. services sector is holding on

Data: Institute for Supply Management; Chart: Axios Visuals

Economists and fund managers are concerned about the services sector, which makes up around 70% of U.S. employment.

Driving the news: ISM's non-manufacturing PMI report released Wednesday showed a weaker-than-expected reading that was 5.4 points below October, but continued to expand with a reading above 50.

  • It was the 124th consecutive month the index has shown growth.

Why it matters: Unlike the manufacturing sector, services data has disappointed but has yet to fall into contraction in the U.S. and much of the rest of the industrialized world.

Go deeper: Index tracking U.S. services sector activity falls to 3-year low

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