ISM Services PMI
a.k.a. ISM non-manufacturing
A monthly ISM survey of US service-sector companies; above 50 signals growth in the larger part of the…
In plain English
A monthly ISM survey of US service-sector companies; above 50 signals growth in the larger part of the economy.
Services make up most of the US economy, so the ISM Services PMI, released a couple of business days after the manufacturing version, often matters more. It used to be called the non-manufacturing index.
Its prices component is a close read on service-sector inflation, which central bankers watch carefully.
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