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Services Purchasing Managers' Index (PMI)

Services PMI depicts the results of the services purchasing managers' questionnaire, made to estimate the changes in this field. Numbers less than 45-50 indicate the slowing tempo of economic development. Frequently, the volume of this index is influenced by psychological factors rather than by the real situation. The services consumption process has a tendency to change at a relatively steady pace. That is why these are psychological reasons that influence sharp changes of this index. Therefore, special attention is paid to this fact when analyzing the index.The index is released on the first days of every month at 10:00 am EST and New York Time, one day after the ISM index publication. It has restrained effects on the market. The growth of the index is a favourable factor for the US dollar rate.
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