Economic Collapse

[basserdan]

9:45a PMI Composite Flash
Composite – Level 50.9 actual vs 52.8 prior
Manufacturing – Level 50.6 actual vs 52.4 prior
Services — Level 50.9 actual vs 52.9 prior
Consensus Outlook
Modest growth for services and also for manufacturing was the theme of the April PMIs. The consensus for May's flash PMI composite is 52.4 split between a services consensus at 52.8 and a manufacturing consensus at 52.3.
Definition
The flash Composite Purchasing Managers' Index (PMI) provides an early estimate of current private sector output by combining information obtained from surveys of around 1,000 manufacturing and service sector companies. The flash data are released around 10 days ahead of the final report and are typically based upon around 85 percent of the full survey sample. Results are synthesized into a single index which can range between zero and 100. A reading above (below) 50 signals rising (falling) output versus the previous month and the closer to 100 (zero) the faster output is growing (contracting). The report also contains flash estimates of the manufacturing and services PMIs. The data are produced by Markit.


10:00a New Home Sales 673K actual vs 723K prior (revised)
Definition
New home sales measure the number of newly constructed homes with a committed sale during the month. The level of new home sales indicates housing market trends and, in turn, economic momentum and consumer purchases of furniture and appliances.