ISM Non-Manufacturing Business Activity is one of four diffuse indicators, based on which the Supply Management Institute calculates the Non-Manufacturing PMI. It reflects changes in business activity in the US services sector.
The index calculation is based on data collected from a monthly survey of supply managers from 17 sectors of the US service industry. Respondents estimate whether business activity has decreased, increased or has not changed in the past month. The collected data are processed and compiled to a diffuse index. The index weight in the total PMI calculation is 25%.
The non-manufacturing business activity index reflects conditions of doing business in the country. Index growth indicates an improvement in the economic and financial conditions, as well as increase in the production of services. The service sector contributes much to the country's GDP, therefore business activity growth can be interpreted as a leading indicator of GDP growth and economy expansion.
However, the index generally does not influence dollar quotes directly and is normally interpreted as part of PMI.
The chart of the entire available history of the "ISM United States Non-Manufacturing Business Activity" 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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