2017 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

PMI Services Index  
Released On 12/5/2017 9:45:00 AM For Nov, 2017
PriorConsensusConsensus RangeActual
Level55.3 54.7 54.7  to 55.1 54.5 

Highlights
Markit's U.S. service-sector sample reported solid growth but still the softest since June, at a composite score of 54.5 in November which is little changed from the mid-month flash and down 8 tenths from October.

New orders growth are the highlight of the report as is employment which is at a 3-month high. Both input costs for goods and selling prices are rising for this sample.

Business confidence, getting a boost from planned investment and the rise in new orders, is also very strong though slightly lower than October. Yet the report warns that confidence in the year-ahead outlook "deteriorated" which may point to a rise in risk aversion that could hurt future employment and hiring.

A clear negative is a slowing in backlog accumulation in the weakest showing since June. Despite some soft spots, this report is still very solid. Coming up next will be ISM non-manufacturing at 10:00 a.m. ET which has been running much hotter than Markit's survey.

Recent History Of This Indicator
PMI services slowed slightly in the November flash but details still held solid led by new orders and a 3-month high for employment. Both input costs and selling prices, in a special sign of strength, are increasing for this sample. The Econoday consensus is calling for no change from the flash, at 54.7.

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
 

2017 Release Schedule
Released On: 1/52/33/34/55/36/57/68/39/610/411/312/5
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


powered by  [Econoday]