2018 Economic Calendar
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PMI Services Index  
Released On 3/5/2018 9:45:00 AM For Feb, 2018
PriorConsensusConsensus RangeActual
Level53.3 55.9 53.5  to 55.9 55.9 

Highlights
PMI services had shown softness compared to other small-sample surveys but strength is now accelerating. Driven by new orders, the PMI held on to its strong mid-month gains with a final score of 55.9 to match the February flash. This is up a very sharp 2.6 points from January.

Capacity stress is now appearing in the sample with backlog orders piling up for a third straight month to a nearly 3-year high. And prices are accelerating, especially input costs which are at a 2-1/2 year high and also selling prices which the report says continue to climb.

Hiring is solid and business optimism is also strong, at a 13-year high. Unsustainable strength is the signal from many private surveys, still in contrast to actual data from the government where strength is much less severe. Coming up at 10:00 a.m. ET is the ISM non-manufacturing survey which ran especially hot last month.

Consensus Outlook
PMI services moved higher in the flash for February and are expected to hold at the 55.9 result for the final reading. New orders and business confidence showed special strength in the flash report.

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
 

2018 Release Schedule
Released On: 1/42/53/54/45/36/57/58/39/610/311/512/5
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


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