Source Markit (latest release)
Measures Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, on the first business day after the month ends;
Next Release May 1, 2014
FF Notes Above 50.0 indicates industry expansion, below indicates contraction. The 'Previous' listed is the 'Actual' from the Flash release and therefore the 'History' data will appear unconnected. There are 2 versions of this report released about a week apart – Flash and Final. The Flash release is the earliest and thus tends to have the most impact. Source first released in May 2012;
Why Traders
Care It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;
Derived Via Survey of about 600 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acro Expand Purchasing Managers' Index (PMI);