The Purchasing Managers' Index® (PMI®) is based on monthly surveys of carefully selected companies representing large and developing economies worldwide.
The IHS Markit Germany Services PMI® is collected by IHS Markit on a monthly basis by means of a questionnaire, which is answered by purchasing managers or managing directors of approximately 400 different companies in the service sector, broken down by detailed sector and company headcount and based on contributions to GDP. The participants in the survey were grouped according to location and industry (SIC). Sectors covered include consumers (excluding retailers), transport, information, communications, finance, insurance, real estate and business services.
The survey takes place in the second half of the month. The survey asks about the change compared to the previous month. From this, a diffusion index is calculated for each variable. This is the sum of the percentage of firms reporting an improvement and half the percentage of firms reporting no change in the situation. These indices vary between 0 and 100, with a value of 50.0 representing no change from the previous month. Values above 50.0 indicate improvement or growth, values below 50.0 indicate deterioration or decline. The greater the deviation from 50.0, the higher the change from the previous month.
The indices are seasonally adjusted. The adjusted original data are, according to their initial release, not subject to revision. Seasonally adjusted data, on the other hand, can be revised if necessary due to updated seasonal adjustment factors.
The index is compiled to provide a general overview of the economic situation in the manufacturing sector. It is an early indicator for the whole economy. The growth of the services PMI is an indicator of favourable market conditions and can be seen as positive for the euro.
The chart of the entire available history of the "Markit Germany Services Purchasing Managers Index (PMI)" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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