Markit Services PMI reflects the level of activity in the US private service companies for the given month. The indicator calculation is based on the surveys of representatives of private companies from the service sector. The survey covers transport companies, financial organizations, IT companies, hotel and restaurant businesses, telecommunication providers, etc. The survey considers the number of orders, the volume of work done, employment and price trends in the industry.
The index reflects the conditions of doing business in the service sector and is used to assess the overall economic situation in the United States.
The value exceeding 50 indicates a stronger economy and has a positive impact on USD.