2017 Economic Calendar
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PMI Composite Flash  
Released On 6/23/2017 9:45:00 AM For Jun, 2017
PriorConsensusConsensus RangeActual
Composite – Level53.9 53.8 53.6  to 53.8 53.0 
Manufacturing – Level52.5 52.7 52.2  to 53.5 52.1 
Services — Level54.0 53.7 53.6  to 53.9 53.0 

Highlights
The economy is solid, at least the service sector, but on the whole is losing momentum, based on Markit's flash data for June. The composite PMI slowed to 53.0 vs Econoday's consensus for 53.8 with services also at 53.0 and manufacturing at 52.1, both short of expectations.

Services offer the best news with new orders and employment solid and optimism on the outlook particularly positive. In a special sign of strength, service companies in the sample are reporting the best gains in selling prices so far this year.

Manufacturing, however, moved to its slowest rate since September last year with both new orders and output down, offsetting gains in hiring and also inventories. Input costs slowed with selling prices here still weak.

The service strength in this report keeps it from being downbeat, though the weakness in manufacturing, which has been struggling this quarter, is not welcome.

Recent History Of This Indicator
The PMI composite picked up in May, from 52.7 in April to a final 53.6 (53.9 for the flash). May's gain was centered in services where the index rose to a solid 53.6 (54.0 for the flash) with growth in manufacturing trailing at a moderate 52.7 (52.5 flash). Expectations for June are pointing to little change. Rates of growth in this report have been more moderate than other private surveys and generally more in line with government data.

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
 

2017 Release Schedule
Released On: 3/244/215/236/237/248/249/2210/2411/24
Release For: MarAprMayJunJulAugSepOctNov
 


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