It is the results of a survey of 350 purchasing managers on recent trends in orders, production, employment, delivery speeds (vendor performance), and inventories as well as prices for the products they buy. Respondents indicate whether activity in each category has been higher, lower or unchanged from the previous month.

An overall index reading above 50% implies expansion of the manufacturing sector; below 43% implies recession. Growth in other sectors — service and construction — can sustain gains for the whole economy when manufacturing weakness is only moderate. This survey is also considered an indicator of corporate purchasing managers’ plans.

Source: Institute for Supply Management

Frequency: Monthly at 10:00 a.m., first business day of the following month