2017 Economic Calendar
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PMI Composite FLASH  
Released On 12/14/2017 9:45:00 AM For Dec, 2017
Composite – Level54.6 53.0 
Manufacturing – Level53.8 55.0 
Services — Level54.7 52.4 

An 11-month high for manufacturing couldn't offset a 15-month low for services which pulled down the PMI composite to 53.0 in the December flash and a 9-month low. Manufacturing, at 55.0, is the more closely watched sector for economic change and the results here are very positive with sharp increases posted for new orders, production and especially employment where growth in this sample is the best since September 2014. The gain in employment reflects efforts underway among manufacturers to expand capacity and meet what is strong domestic demand and fulfill the needs of new product launches.

Turning to services, however, the results become subdued at a reading of 52.4 and including loss of momentum for new orders which eased to their lowest level in 8 months. Hiring in this sample is at a 7-month low. Business optimism, which is very strong on the manufacturing side, is much softer in services, at the second lowest readings since June last year.

Outside of input costs for manufacturing, price data in today's report are soft. Today's mixed results are of interest, confirming what appears to be a very strong year-end finish for manufacturing and what may be, despite contrary hints in this morning's retail sales results, a soft finish for services, a sector that may not signal economic pivots with certainty but what is a far larger sector than manufacturing.

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
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