Good morning, wherever you are, check and stay attentive. The Services Purchasing Managers' Index (PMI) from the Institute for Supply Management (ISM) is an economic indicator that measures activity in the U.S. services sector. It is a leading indicator that provides information about the state of the non-manufacturing sector.
The ISM Services PMI, in summary:
Measures economic activity:
The index reflects the expansion or contraction of business activity in the services sector, including areas such as retail, health, and real estate.
It is based on surveys:
The index is calculated from surveys of purchasing and supply managers in non-manufacturing companies.
It is a key indicator:
The ISM Services PMI is an important indicator for supply chain management professionals, economists, analysts, and government and business leaders.
It is published monthly:
The index is published monthly, providing insight into economic activity in the services sector over a specified period.
Additional details:
The index is considered an indicator of the economic health of the non-manufacturing sector, which represents a significant part of the U.S. economy.
The index is based on surveys conducted with over 400 purchasing and supply managers from non-manufacturing companies.
The ISM Services PMI provides information on various aspects of economic activity in the services sector, such as business activity, new orders, employment, and supplier deliveries.
The index can be used to predict the direction of the economy and make strategic decisions in both the private and government sectors.
In summary, the ISM Services PMI is a key economic indicator that provides information about the state of the services sector in the United States. It is a valuable tool for economic and strategic decision-making. If you liked it, give it a like and follow me for more.