2015 Economic Calendar
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ISM Non-Mfg Index  
Released On 5/5/2015 10:00:00 AM For Apr, 2015
PriorConsensusConsensus RangeActual
Composite Index - Level56.5 56.5 54.0  to 57.5 57.8 

The ISM non-manufacturing index extended its strong and unusually stable trend, coming in at 57.8 for April vs a very solid 56.5 in March. Over a 10-month stretch, this index has held between 58.8 on the high side to 56.5 on the low side.

New Orders are very strong, at 59.2, as are backlog orders, at 54.5 which is unusually strong for this reading. Strong orders point to future hiring which is already very strong, at 56.7. Price data, unlike this morning's PMI services index, do not show any pressure.

Otherwise, however, there is plenty of upward pressure registered in this report, one that points to a sizable rebound for the economy during the second quarter.

Consensus Outlook
The ISM non-manufacturing index is expected to hold steady, at a very solid 56.5 and in line with the indication from the flash PMI services index. New orders have been consistently solid in the ISM report with backlog orders also on the rise.

The Institute For Supply Management surveys more than 375 firms from numerous sectors across the United States for its non-manufacturing index. This index covers services, construction, mining, agriculture, forestry, and fishing and hunting. The non-manufacturing composite index has four equally weighted components: business activity (closely related to a production index), new orders, employment, and supplier deliveries (also known as vendor performance). The first three components are seasonally adjusted but the supplier deliveries index does not have statistically significant seasonality and is not adjusted. For the composite index, a reading above 50 percent indicates that the non-manufacturing economy is generally expanding; below 50 percent indicates that it is generally declining. The supplier deliveries component index requires extra explanation. A reading above 50 percent indicates slower deliveries and below 50 percent indicates faster deliveries. However, slower deliveries are a plus for the economy -- indicating demand is up and vendors are not able to fill orders as quickly.  Why Investors Care
The ISM non-manufacturing survey does not compile a composite index like its manufacturing cousin. The business activity index, which is actually akin to the production index in the manufacturing survey, is widely followed as the key figure from this survey.
Data Source: Haver Analytics

2015 Release Schedule
Released On: 1/62/43/44/65/56/37/68/59/310/511/412/3
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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