Oct 3, 2019

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

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Analysts expect key U.S. manufacturing index to improve this month

Data: Institute for Supply Management; Chart: Axios Visuals

The U.S. jobs report will be the most watched piece of data this week, but Friday will also bring the October reading of the Institute for Supply Management's manufacturing data. The index fell to the lowest level since June 2009 in September.

Why it matters: The U.S. manufacturing industry has seen a consistent decline all year, falling into recession earlier in the year and showing outright contraction for the second month in a row last month.

Go deeperArrowOct 28, 2019

Services data is following manufacturing

Data: Institute for Supply Management; Chart: Axios Visuals

Bullish market analysts and money managers have been somewhat dismissive of deteriorating manufacturing data this year and its importance, arguing that the sector makes up a minute portion of the U.S. economy.

Why it matters: While that is true, manufacturing is a leading indicator, and more bearish investors have insisted the sector's decline would drag the rest of the economy down with it.

Go deeperArrowOct 4, 2019

Business leaders spooked by Trump's manufacturing slump

Data: Bureau of Labor Statistics; Chart: Axios Visuals

American manufacturers rode a wave of optimism after President Trump took office, clinging to his promises to revive the industry and bring back jobs.

Yes, but: The politically important sector is being choked by his trade war with China, and business leaders tell Axios that the tariffs threaten to upend the economy if not addressed soon.

Go deeperArrowOct 6, 2019