Italian Services PMI

MeasuresLevel of a diffusion index based on surveyed purchasing managers in the services 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;
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 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acro ExpandPurchasing Managers' Index (PMI);