What Is the ISM Manufacturing Index?

The ISM manufacturing index, or purchasing managers' index (PMI), measures the change in production levels across the U.S. economy from month to month. It is a monthly indicator of U.S. economic activity based on a survey of purchasing managers at more than 300 manufacturing firms and is considered to be a key indicator of the state of the U.S. economy. The PMI number, announced on the first business day of each month, can greatly influence investor and business confidence.
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