ISM publishes manufacturing and services PMIs for the US in the first week of each month; S&P Global publishes flash versions for many countries. PMIs lead gdp because they measure new orders and hiring intentions.
A sharp drop below 50 is one of the earlier signs of slowdown.
Example: ISM manufacturing prints 47.2, a 16th straight month below 50, while services prints 53.5. The economy is growing on the services side and contracting in manufacturing.
Related: gdp, economic-calendar, unemployment-rate, sector-rotation