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This item downloads seasonally adjusted historical data of the PMI Index from the Institute of Supply Management (ISM). The PMI (Manufacturing Purchasing managers' index) number is compiled from a survey of managers' purchasing. The idea is that the more managers buy raw materials to fulfill their needs, the better the business is. This means that the economy will expand and the stock prices will likely increase.
A PMI number above 50 indicates that the manufacturing sector is expanding.
A PMI number below 50 indicates that the manufacturing sector is contracting.
An expanding (contracting) manufacturing sector is an indication that the economy will be expanding (contracting) as well.
The Institute's monthly survey has five components: new orders, production, employment, deliveries and inventories. These components are adjusted and then combined to create the PMI index. Note that the current item also downloads historical data for these components.
Six symbols are created and six time-series data are downloaded (From 1948 to present)
^ISM_NEW_ORDERS: Manufacturing new orders index
^ISM_PRODUCTION: Manufacturing production index
^ISM_EMPLOYMENT: Manufacturing employment index
^ISM_DELIVERIES: Manufacturing supplier deliveries index
^ISM_INVENTORIES: Manufacturing inventories index
^ISM_PMI: ISM Manufacturing PMI Index
NB: According to the ISM website, the PMI Index can explain about 60 percent of the annual variation in the Gross Domestic Product.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
