2017 Economic Calendar
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PMI Services Index  
Released On 11/3/2017 9:45:00 AM For Oct, 2017
PriorConsensusConsensus RangeActual
Level55.3 55.9 55.0  to 55.9 55.3 

Highlights
Growth in the nation's service sector remains solid based on Markit's U.S. sample which posted a final October composite of 55.3, unchanged from September though down 6 tenths from the mid-month flash.

Growth in new orders is getting a boost from business investment but still slowed to a 6-month low. Backlog accumulation softened to a 4-month low. Employment growth is solid as are business expectations. Input costs continue to rise but at slowing pace with selling prices also still rising but again at a slower pace.

What stands out in this report is a lack of acceleration which points to a steady but still healthy fourth quarter for the bulk of the economy. Next reading on the service sector comes later this morning with the 10:00 a.m. ET release of ISM's non-manufacturing report. Note that Markit's composite flash for October, which also includes the manufacturing sector, came in at 55.2 vs 54.8 for September.

Recent History Of This Indicator
PMI services popped back to 55.7 for the mid-month October flash after slowing below 55 during September. Strength was centered in the 6-month outlook offsetting slowing for orders and employment. The consensus for October's final is 55.9.

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
 


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