Markit Services PMI reflects the level of activity in the US private service companies for the given month. The indicator calculation is based on the surveys of representatives of private companies from the service sector. The survey covers transport companies, financial organizations, IT companies, hotel and restaurant businesses, telecommunication providers, etc. The survey considers the number of orders, the volume of work done, employment and price trends in the industry.
The index reflects the conditions of doing business in the service sector.
Readings above 50 can have a positive effect on US dollar quotes.