2017 Economic Calendar
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PMI Services Index  
Released On 5/3/2017 9:45:00 AM For Apr, 2017
PriorConsensusConsensus RangeActual
Level52.8 52.3 52.0  to 52.5 53.1 

Highlights
Late respondents in Markit's U.S. service sector sample reported greater strength this month, lifting PMI services to an April final of 53.1 from 52.5 at mid-month and against 52.8 in March. Still, new order growth is described as subdued and, in what is a negative indication for Friday's employment report, the sample reported the weakest growth in hiring in nearly 7 years.

Weak hiring reflects low backlogs which have now contracted for three months in a row. Traction in selling prices is marginal though input costs, including for labor, are on the rise. Despite the late April bounce in the headline, there are plenty of red signals in this report that don't point to a second quarter surge for the economy. Also included in today's data is the PMI composite final for April, at 53.2. The ISM non-manufacturing report follows this morning at 10:00 a.m. ET, a report that has been running much stronger than PMI Services.

Recent History Of This Indicator
PMI services have been one of the very few advance reports signaling, not great strength, but slowing. March indications fell sharply while the April flash fell 4 tenths to a 52.5 level that is only moderately above breakeven 50. In a negative signal for the April employment report, hiring in the sample slowed to a nearly 7-year low at mid-month. If the economy continues to slow, this report should be remembered for the accuracy of its advanced signal. The Econoday consensus for the April final is 52.3.

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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