US Manufacturing ISM(M/M)
The true value of the ISM Manufacturing Survey lies within its timeliness. During waning boom cycles, analysts point out that ISM tends to be one of the biggest market moving economic releases. The reasoning which supports this claim resides within the ISM's Prices Paid and Employment subcomponents. The aforementioned components reflect sentiment in relation to inflation and labor conditions - two of the markets most noteworthy sustainability indicators. Given the ISM's timeliness, the information acquired from such components preface other market data ( Non Farm Payrolls or Cost Performance Index ) makes the ISM a significant indicator. The headline figure is expressed as a diffusion index compiled from survey responses. These responses are those of approximately 400 purchasing managers in the manufacturing industry. The ISM manufacturing indicator is the collective of the results for all categories. On the index, a level above 50.0 indicates industry expansion, while a level below 50.0 indicates contraction.