2017 Economic Calendar
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PMI Services Index  
Released On 10/4/2017 9:45:00 AM For Sep, 2017
PriorConsensusConsensus RangeActual
Level56.0 55.2 55.1  to 55.3 55.3 

Highlights
Hurricane effects did little to slow down Markit's U.S. service sector sample whose final September index, at 55.3, is up 2 tenths from the mid-month flash and down only 7 tenths from August. Production held at solid and sustained levels and new orders, driven by domestic demand, are near a 3-year high. Inflation data show wanted traction with input costs, due to hurricane effects, up the most since June last year and selling prices at a 3-year high. Hiring is described as solid though slowing to a 3-month low which is likely tied to only marginal backlog accumulation. Business confidence is still described as "robust" yet the level is the lowest in 7 months. This report also includes Markit's final composite which, when including a 53.1 reading for the September manufacturing PMI released Monday, eased 5 tenths from August to 54.8.

Recent History Of This Indicator
Though there was little indication of hurricane effects, PMI services did slow noticeably in the September flash to what was still a very solid 54.6 score but down from August's 56.0. Service providers reported increases in both consumer and business spending in the flash report though optimism on future sales slowed to the lowest level since September last year. Inflation readings were mixed with input costs, despite the hurricanes, slowing while selling prices showed the most traction in three years. The consensus for final September, at 55.2, points to expectations for month-end strength.

Definition
US Services Purchasing Managers' Index (PMI) is based on monthly questionnaire surveys collected from over 400 U.S. companies which provide a leading indication of what is happening in the private sector services economy. It is seasonally adjusted and is calculated from seven components, including New Business, Employment and Business Expectations.  Why Investors Care
 

2017 Release Schedule
Released On: 1/52/33/34/55/36/57/68/39/610/411/312/5
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


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