In this article, We learn about "ISM Services PMI".Let's Go!
The ISM Services PMI (formerly the ISM Non-Manufacturing Index) details the economy from a non-manufacturing perspective.
ISM stands for Institute for Supply Management, the nonprofit organization responsible for measuring the U.S. manufacturing and non-manufacturing Purchasing Managers Index, or PMI.
What is ISM Service Survey?
Service PMI® or simply ISM Service Report or simply “Service Report” is based on data compiled by purchasing managers nationwide.
This report, like the ISM Manufacturing Survey, is based on a survey of purchasing managers, except that U.S. purchasing managers work in non-manufacturing.
The
Non-Manufacturing PMI considers business conditions in the service industry, such as employment, production, new orders, prices and inventories, to determine whether the industry is expanding or contracting during the month.
How to pronounce
?
Readings above 50.0 indicate economic expansion, while readings below 50.0 indicate contraction.
The non-manufacturing PMI shows the performance of the service industry over a period of time and helps to understand the overall economic conditions in the United States
It also provides data on factors affecting growth and inflation.
When will it be released?
The
Services PMI® report is released on the third business day of each month at 10:00 a.m. Eastern Time .
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