ISM Services PMI
Tue, Apr 15The ISM Services PMI (previously known as the ISM Non-Manufacturing Index) offers an in-depth perspective on the economy from a non-manufacturing viewpoint.
ISM, which stands for the Institute of Supply Management, is a non-profit organization that measures the Purchasing Managers’ Index (PMI) for both manufacturing and non-manufacturing sectors in the United States.
What is the ISM Services Survey? The Services PMI®—commonly referred to as the ISM Services report or simply the “services report”—is derived from data collected by purchasing managers across the country.
This report, similar to the ISM Manufacturing Survey, is based on surveys of purchasing managers, with the key distinction being that these managers operate within non-manufacturing industries in the U.S.
The non-manufacturing PMI assesses business conditions in the services sector, including employment, production, new orders, prices, and inventories, to evaluate whether the industry has expanded or contracted over the month.
How do you read it? A reading above 50.0 signifies economic expansion, while a reading below 50.0 indicates contraction.
Since the non-manufacturing PMI reflects the performance of the services sector during a specific period, it aids in understanding the overall economic conditions in the U.S. It also provides insights into factors influencing growth and inflation.
When is it released? The Services PMI® report is published on the third business day of each month at 10:00 am ET.
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