Track the US ISM Services PMI, a crucial gauge of economic health and industry momentum.
This indicator serves as a key gauge of economic vitality, as businesses quickly adapt to market changes. Purchasing managers possess the most up-to-date insights regarding their companies' perspectives on the economy. A reading above 50.0 signifies industry growth, while a figure below indicates contraction. Note that the source transitioned from an unadjusted to a seasonally adjusted series starting January 2001, and the calculation method changed in February 2008.
What it Measures
It reflects the level of a diffusion index derived from surveys of purchasing managers, specifically excluding the manufacturing sector.
Usual Effect
When the 'Actual' figure exceeds the 'Forecast', it is viewed positively for the currency.
Source & Frequency
Institute for Supply Management (latest release) - https://www.ismworld.org/ • This data is released monthly, occurring on the third business day following the end of the month.
How Data is Derived
Survey of about 300 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories
Also Known As
Non-Manufacturing PMI, Non-Manufacturing ISM Report On Business
Acronym
The Institute for Supply Management (ISM), Purchasing Managers' Index (PMI)