ISM United States Non-Manufacturing Prices Paid
ISM Non-Manufacturing Prices Paid is one of the four diffuse indicators, based on which the Supply Management Institute calculates the Non-Manufacturing PMI. It reflects changes in prices paid by companies to suppliers in the process of preparing services.
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 prices for goods and services used in production have decreased, increased or have 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 ISM Non-Manufacturing Prices Paid index is usually closely correlated with other data released by the Bureau of Labor Statistics. The growth of intermediate prices in the service sector can serve as a leading inflation indicator: producers have to pay more to suppliers, that is why the price of the final product is likely to grow.
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 Prices Paid" 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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