| Source | |
| Measures | Level of a diffusion index based on surveyed purchasing managers, excluding the manufacturing industry; |
| Usual Effect | 'Actual' greater than 'Forecast' is good for currency; |
| Frequency | Released monthly, on the third business day after the month ends; |
| Next Release | |
| FF Notes | Above 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
Care | 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 Via | 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 Called | Non-Manufacturing PMI, Non-Manufacturing ISM Report On Business; |
| Acro Expand | The Institute for Supply Management (ISM), Purchasing Managers' Index (PMI); |
