Bloomberg Econoday sees it like this.

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ISM December 2019

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I did not capture the data before it was revised to unchanged.

The December ISM PMI was originally reported at 47.2, then revised to 48.1 today. Yet, January is now supposedly unchanged at 50.9.

Supplier deliveries were heavily revised and that component is part of the "unchanged" headline number.

Mike "Mish" Shedlock

Tale of Two Indexes: Non-Manufacturing ISM vs Markit PMI

The ISM Non-Manufacturing Index strengthened in October. Markit's Service PMI weakened.

ISM-Markit Manufacturing Divergence Widens Again

The divergence between the ISM Report on Business and the Markit PMI manufacturing index widened this month. ISM increased slightly from 54.8 to 54.9 while the Markit reading declined slightly to an 8-month low of 52.7 from 52.8

ISM a Leading Indicator? Of What?

Here's an interesting chart from a tweet today. I cannot make heads or tails out of the proposed idea.

Huge Difference Between ISM and PMI: Which One is Wrong?

Both the Institute of Supply Management and Markit released service sector reports. They are wildly different.

Non-Manufacturing ISM Cracks Appear: 8 of 18 Industries in Contraction

The non-manufacturing (services) ISM is still growing but prices and new export orders both plunged into contraction. Moreover, 8 out of 18 industries fell into outright contraction.

Slower Expansion in Non-Manufacturing ISM and Markit Services PMI

Business activity growth softened to a 7-month low in Dec. according to Markit. ISM expansion was less than expected.

ISM and Markit Manufacturing Reports Skewed by Energy Sector and Airplane Orders?

The divergence between Markit’s US Manufacturing PMI and the ISM’s “Report on Business” narrowed a bit today with both numbers retreating a bit but ISM cooling more.

Another ISM/PMI Divergence: Non-Manufacturing

On April 3, I noted a huge discrepancy between the ISM manufacturing report and Markit’s PMI manufacturing report.

US Manufacturing Recession Begins: ISM Contracts First Time in 3 Years

The manufacturing ISM dipped below the 50 mark signaling contraction. New orders, production, and employment are down.