Contradicting Services Report From the US for November

Today we had two employment report getting released from the US, one from ISM and the other from Markit. They were released 15 minutes apart, while showing a totally different picture. Although, this sector remained in a decent shape in both reports, despite the ISM one cooling off. Although, both reports show a decent activity, especially compared to Europe, here the service sector is in recession again.

• November final Markit services index 58.4 points vs 57.5 expected
• Highest reading since April 2015
• Prelim was 57.7 points
• October services index was 56.9 points
• Hiring rose at the highest pace on record
• Input  prices  rose  at  the  quickest  pace  since  data  collection  began  in  October  2009
• “Firms sought to pass on higher input costs to clients through an accelerated increase in selling prices. The rise in output charges was the sharpest since the series began over 11 years ago.”
• Full report