Updated Dec 2, 2019

Key manufacturing index contracts for the fourth straight month

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Two key U.S. manufacturing indexes have diverged sharply

Data: Investing.com; Chart: Lazaro Gamio/Axios

The ISM's November U.S. manufacturing index got all the headlines with a fourth straight reading showing the industry in contraction, but IHS Markit's index was also released Monday and told a very different story.

What's happening: Both surveys are well respected by investors and economists, but follow different methodologies. This seems to have created a widening divide in which IHS Markit's data is showing a solid recovery in U.S. manufacturing while ISM's is showing further deterioration.

Go deeperArrowDec 3, 2019

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.

Go deeperArrowDec 5, 2019

By the numbers: Trump's manufacturing slump

Data: BLS; Chart: Andrew Witherspoon/Axios

While sentiment indicators have been split, the jobs data and reports from businesses are painting a clear picture of the U.S. manufacturing industry's stress.

What they're saying: Timothy Fiore, chairman of the ISM survey committee, which tracks the sector through its purchasing managers index, said his report may be underestimating the damage. (His company's latest report showed manufacturing contracting for the fourth straight month.)

Go deeperArrowDec 5, 2019