Measures Level of a diffusion index based on surveyed purchasing managers in the services industry;

Usual Effect Actual > Forecast = Good for currency; Frequency Released monthly, around 3 weeks into the current month;

Data is given to Thomson Reuters subscribers 2 minutes before the public release time listed on the calendar – early market reaction is usually a result of trades made by these subscribers. Above 50.0 indicates industry expansion, below indicates contraction. There are 2 versions of this report released about a week apart – Flash and Final. The Flash release, which the source first reported in Jun 2007, is the earliest and thus tends to have the most impact. Full reports are only available to journalists registered with Markit;