Fiper | ISM Services PMI

The Institutional Support Management (ISM) Non-Manufacturing Index determines the level of activity of purchasing managers in the services sector, and a reading above 50 indicates expansion. To get a reading of this indicator, purchasing managers determine the level of certain elements in the sector, including employment, production, new orders, resource allocation, and inventories.
The ISM manufacturing PMI fell to 47.4 in January, the lowest since May 2020 at the height of the Covid pandemic and below market expectations of 48. The reading indicated a third consecutive contraction in factory activity as companies slowed production to better match demand in the first half of the year. 2023 and prepare for growth in the second half of the year. Further declines were seen in new orders (42.5 vs 45.1), production (48 vs 48.6) and order backlogs (43.4 vs 41.4) while inventories slowed (50.2 vs 52.3), the supplier delivery index indicated faster deliveries (45.6 vs 45.1) and the price index rose ( 44.5 vs. 39.4). At the same time, employment (50.6 vs. 50.8) rose by a little less but companies are indicating that they will not drastically cut staff numbers because they are positive in the second half of the year

Outlook for today's statement and how it will affect the currency

The expected level for today's statement is 50.5
In the event that the current statement is issued at a higher than expected level, it will positively affect the currency, and vice versa