ISM Services PMI

MeasuresLevel of a diffusion index based on surveyed purchasing managers, excluding the manufacturing industry;
Usual Effect'Actual' greater than 'Forecast' is good for currency;
FrequencyReleased monthly, on the third business day after the month ends;
Next Release
FF NotesAbove 50.0 indicates industry expansion, below indicates contraction. Source changed series from unadjusted to seasonally adjusted as of January 2001. Source changed series calculation formula as of Feb 2008;
Why Traders
It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;
Derived ViaSurvey 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 CalledNon-Manufacturing PMI, Non-Manufacturing ISM Report On Business;
Acro ExpandThe Institute for Supply Management (ISM), Purchasing Managers' Index (PMI);