ISM Non-Manufacturing New Orders is one of the diffuse indicators, based on which the Supply Management Institute calculates the Non-Manufacturing PMI. It reflects a change in orders in service sector companies.
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 the number of orders in their companies has increased in the past month, decreased or has not changed. The collected data are processed and compiled to a diffuse index. The index weight in the total PMI calculation is 25%.
The non-manufacturing new orders index is usually closely correlated with data published by the Census Bureau. A higher number of new orders in the service sector points to an increase in consumer demand and allows forecasting a near-term increase in business activity.
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 New Orders" 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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