2018 Economic Calendar
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PMI Composite Flash  
Released On 1/24/2018 9:45:00 AM For Jan, 2018
PriorConsensusConsensus RangeActual
Composite – Level53.0 54.0 53.2  to 54.5 53.8 
Manufacturing – Level55.0 55.0 53.7  to 55.5 55.5 
Services — Level52.4 54.0 53.1  to 54.8 53.3 

Highlights
Strength in manufacturing leads what is nevertheless a moderate PMI composite which came in at 53.8 for the January flash and slightly under Econoday's consensus for 54.0. Softness for a second month is in services where the index, held back by weakness in output, improved by nearly a point but still fell short of expectations at 53.3. But manufacturing, where change is considered a leading indicator for the economy in general, beat expectations by a 1/2 point at 55.5 and the best result in nearly three years.

Export sales are a highlight of the manufacturing results as is production, employment and overall orders. The report's sample is trying to build inventories while traction for selling prices is the strongest in more than four years, both tangible signs of strength.

Details on the service sector belie the weakness in the headline with acceleration in new orders and employment continuing to expand. Selling prices here are also on the rise.

Consensus Outlook
Markit's set of U.S. indicators showed strength in December but reversed order with manufacturing pulling ahead and services, which had been consistently stronger, slowing noticeably. Still, the service sample did show strength in the last two weeks of December which points to momentum for January. The consensus for January is another solid showing, at 54.0 for the composite, also 54.0 for services, and 55.0 for manufacturing.

Definition
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 is output 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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