2017 Economic Calendar
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PMI Composite Flash  
Released On 4/21/2017 9:45:00 AM For Apr, 2017
PriorConsensusConsensus RangeActual
Composite – Level53.2 52.7 
Manufacturing – Level53.4 53.9 53.0  to 54.0 52.8 
Services — Level52.9 53.1 52.7  to 53.6 52.5 

Loss of momentum is the continuing signal from Markit Economics' U.S. samples where the April flash composite is down 5 tenths to 52.7. Weakness is divided equally among manufacturers, at 52.8 for a 6 tenths decline, and service providers which are down 4 tenths to 52.5.

Orders are subdued in both sectors with manufacturers, in a special sign of defensiveness, growing cautious over inventories. In a specifically negative signal for the April employment report, service hiring slowed to a nearly 7-year low. Escalating input costs are squeezing the sample as selling prices aren't keeping up.

These results are worth noting not only because they signal weakness going into and including the first part of the second quarter but also because they contrast sharply with other advance reports which are uniformly pointing to accelerating conditions. Based on Markit's samples, the whole first half of the year may prove soft.

Consensus Outlook
Unlike many other anecdotal reports, both the services and manufacturing PMIs slowed in March. For April, forecasters see the services flash, despite weak orders in March, edging 3 tenths higher to a consensus 53.1. The consensus for the manufacturing flash is 53.9 vs 53.3 in March which was held down by slowing orders and also cutbacks in inventories.

The flash Composite Purchasing Managers' Index (PMI) provides an early estimate of current private sector output by combining information obtained from surveys of around 1,000 manufacturing and service sector companies. The flash data are released around 10 days ahead of the final report and are typically based upon around 85 percent of the full survey sample. Results are synthesized into a single index which can range between zero and 100. A reading above (below) 50 signals rising (falling) output versus the previous month and the closer to 100 (zero) the faster output is growing (contracting). The report also contains flash estimates of the manufacturing and services PMIs. The data are produced by Markit.  Why Investors Care

2017 Release Schedule
Released On: 3/244/215/236/237/248/239/2210/2411/2412/14
Release For: MarAprMayJunJulAugSepOctNovDec

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