2018 Economic Calendar
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PMI Composite FLASH  
Released On 5/23/2018 9:45:00 AM For May, 2018
PriorConsensusConsensus RangeActual
Composite – Level54.8 54.8 54.5  to 55.2 55.7 
Manufacturing – Level56.5 56.5 55.0  to 56.8 56.6 
Services — Level54.4 54.6 54.1  to 55.4 55.7 

The PMI's service sample popped back up to its prior highs while the manufacturing sample inched up to yet new highs. The services PMI, driven especially by a rise in backlogs, rose more than 1 point to 55.7 to indicate the strongest rate of monthly growth in three months and above the 55 mark where it has appeared several times over the past year. Manufacturing, boosted by backlogs and also rising payrolls, rose 1 tenth to 56.6 which is the strongest reading in nearly four years.

Price pressures in both samples are evident with input costs rising at the fastest rate in nearly five years in pressure the report attributes in part to metal and especially steel prices. Positives in today's report are gains in the 6-month outlooks which, together with the overall results, hint at acceleration underway for the second-quarter economy. The composite index, reflecting the enormous size of the service sector, also came in at 55.7.

Consensus Outlook
Moderate growth has been the steady signal from the PMIs with manufacturing showing increasing strength. The flash May consensus for the PMI composite is 54.8 with PMI manufacturing seen at 56.5 and PMI services at 54.6.

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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