Description
The U.S. ISM Non-Manufacturing Purchasing Managers' Index (NMI) is compiled and published by the Institute for Supply Management (ISM). This index is derived from monthly surveys of over 400 purchasing managers in non-manufacturing industries. An NMI reading above 50 indicates expansion in the non-manufacturing sector, while a reading below 50 indicates contraction. It is a key indicator of the health of the US services sector and other non-manufacturing industries.
The NMI is calculated from four equally weighted components: Business Activity, New Orders, Employment, and Supplier Deliveries.
This data is released at 10:00 AM (EST) on the third business day of each month, providing insights into the previous month's non-manufacturing activities.