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PMI Composite Final  
Released On 1/4/2019 9:45:00 AM For Dec, 2018
 ConsensusConsensus RangeActual
Services Index53.4 53.1  to 53.4 54.4 
US 6-Mo ChartGlobal Current
performance relative to consensus

Consensus Outlook
Moderation in both new orders and output pulled back PMI services by more than a point in the December flash. The consensus for December's final is no change from the flash at 53.4. This index ended November at 54.7.

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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