Track the US Flash Services PMI for early insights into American services sector activity and economic growth.
This serves as a primary indicator of US services sector health. The services sector dominates the US economy, accounting for roughly 77% of GDP. Purchasing managers possess some of the most timely and relevant insights into business conditions. The Flash release is published about a week before the final PMI and has the most market impact.
What it Measures
Level of a diffusion index based on surveyed purchasing managers in the services sector.
Usual Effect
When the 'Actual' figure exceeds the 'Forecast', it typically has a positive effect on the currency.
Source & Frequency
S&P Global (latest release) - https://www.pmi.spglobal.com/ • Released monthly, roughly three weeks into the current month.
How Data is Derived
Survey of purchasing managers which asks respondents to rate the relative level of business conditions including new business, employment, prices, and business expectations
Also Known As
N/A
Acronym
Purchasing Managers' Index (PMI)