Description
The Eurozone Non-Manufacturing Purchasing Managers' Index (NMI) is compiled by IHS Markit based on monthly surveys of purchasing managers from approximately 2,000 service sector companies in Germany, France, Italy, Spain, and Ireland. An NMI reading above 50 indicates expansion in the service sector, while a reading below 50 indicates contraction. This index is crucial for assessing the overall health of the Eurozone economy and forecasting future economic activity, influencing ECB monetary policy, as well as business and investment strategies.
The index is typically released on the first working day of each month.
Note: Unlike the PMI, which is composed of five sub-indices, the NMI is represented by the Services Business Activity Index.