2017 Economic Calendar
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PMI Composite Flash  
Released On 9/22/2017 9:45:00 AM For Sep, 2017
PriorConsensusConsensus RangeActual
Composite – Level56.0 54.9 53.8  to 55.1 54.6 
Manufacturing – Level52.5 53.0 51.5  to 59.0 53.0 
Services — Level56.9 55.5 52.4  to 56.0 55.1 

Hurricane Harvey and Irma had little effect on Markit Economics' manufacturing sample as the September flash rose slightly to 53.0 to signal moderate month-to-month growth. The services sample, however, did slow slightly to 55.1 which, however, signals strong growth for this sector. The composite edged lower to a 54.6 level that is consistent with solid growth for the bulk of the economy.

Output among the manufacturing sample was steady and moderate though some did note disruptions tied to Harvey. A negative in the report is the slowest rate of expansion for new orders over the last year with export orders stagnate. Yet backlogs are up which boosted the sample's hiring to the best rate this year. One likely hurricane effect comes from input costs which posted their steepest rise in five years.

Service providers report increases for both consumer and business spending yet are also the least optimistic on future sales since September last year. Inflation readings on the services side are mixed with input costs slowing but selling prices showing the best strength in three years.

Today's report suggests no major impact from Harvey and Irma and points to steady economic growth for the remainder of the year.

Consensus Outlook
Markit Economics' set of U..S. indicators were mixed in August as solid strength in services, at a final 56.0, well outpaced only moderate growth for manufacturing, at a final 52.8. Yet the bulk of the economy is made up of services as is the bulk of the PMI composite which finished August at a very healthy 55.3. Only limited hurricane effects are expected with the consensus for the PMI composite September flash at 54.9 with PMI manufacturing slightly higher at 53.0 and PMI services slightly lower at 55.5.

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 is output 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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