Description
The U.S. Manufacturing Purchasing Managers' Index (PMI) is compiled and published by the Institute for Supply Management (ISM). It is based on monthly surveys of around 400 purchasing managers. A PMI above 50 indicates expansion in the manufacturing sector, while below 50 indicates contraction, serving as a vital indicator of the health of the US manufacturing industry and the global economy.
The PMI is composed of five equally weighted components: New Orders, Production, Employment, Supplier Deliveries, and Inventories.
This data is released on the first business day of each month at 10:00 AM (EST), providing the previous month's survey results.