2018 Economic Calendar
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PMI Composite FLASH  
Released On 4/23/2018 9:45:00 AM For Apr, 2018
PriorConsensusConsensus RangeActual
Composite – Level54.3 54.6 53.6  to 54.8 54.8 
Manufacturing – Level55.7 55.2 54.3  to 56.0 56.5 
Services — Level54.1 54.5 53.5  to 54.8 54.4 

Highlights
Manufacturing leads another solid PMI report. April's flash composite is 54.8 with manufacturing at 56.5 for an 8 tenths increase from March with services also posting a gain, up 3 tenths to 54.4.

New orders are the highlight for April posting the best combined month in 2 years, with backlogs also at a 2-year best. In a sign of capacity stress, delivery times increased sharply for manufacturers.

Tariffs make their appearance in prices and are cited as a key factor behind the sharpest price increase in input costs in nearly 5 years. Selling prices also continue to move higher in what points to future pressure for consumer prices.

The PMI results open the first month of the second quarter on a strong note. Watch Friday for the first estimate of first-quarter GDP.

Consensus Outlook
The PMIs have been running at moderately strong rates in the mid-50s led by manufacturing but including solid strength for services. Steel tariffs could affect both price and inventory results and may show up in the report's comments. The consensus for the April flash composite is 54.6 with manufacturing seen at 55.2 and services at 54.5.

Definition
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
 

2018 Release Schedule
Released On: 1/242/213/224/235/236/227/248/239/2110/2411/23
Release For: JanFebMarAprMayJunJulAugSepOctNov
 


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