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PMI Composite Final  
Released On 12/6/2018 9:45:00 AM For Nov, 2018
 ConsensusConsensus RangeActual
Services Index54.4 54.1  to 54.4 54.7 
US 6-Mo ChartGlobal Current
performance relative to consensus

Consensus Outlook
Moderation in both new orders and employment pulled back PMI services slightly to 54.4 in the November flash. The consensus for November's final is no change at 54.4. This index ended October at 54.8.

Relative Performance Index

Econoday's RPI provides a handy summary measure of how an economy has recently been evolving relative to market expectations.
A reading above zero means that the economy in general has been performing more strongly than expected and vice versa for a reading below zero. The closer is the value to the maximum (+100) or minimum (-100) levels, the greater is the degree to which markets have been under- or over-estimating economic activity. A zero outturn would imply that, on average, the market consensus has been correct. Note too that the index is sensitized to place extra weight upon those indicators that investors consider to be the most important.

 

Definition
US Services Purchasing Managers' Index (PMI) is based on monthly questionnaire surveys collected from over 400 U.S. companies which provide a leading indication of what is happening in the private sector services economy. It is seasonally adjusted and is calculated from seven components, including New Business, Employment and Business Expectations. Why Investors Care

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