Services data: what's the bigger half of the economy saying?
Services dominate developed economies, so services PMIs and ISM readings often matter more than the manufacturing numbers the headlines prefer.
Share:
- the services data you track
- how services inflation feeds your rate view
- the release that changed your mind recently
Background: PMI explained and US ISM services.
Background: PMIs explained: the survey data that moves currencies early
Purchasing managers' indexes are among the first economic numbers published each month. What the 50 line means, which PMIs matter and how traders use them.
What does a PMI of 50 mean?
50 is the dividing line: readings above 50 indicate that business activity is expanding compared with the previous month, and readings below 50 indicate contraction.
What is a flash PMI?
An early estimate published before the month ends, based on most of the survey responses. Flash PMIs often move markets more than the final figures.
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