S&P Global Services PMI

The S&P Global Services PMI is a monthly survey-based index measuring activity in the U.S. services sector, covering new business, employment, and prices, published by S&P Global. Since services represent the largest share of the U.S. economy, traders use it as a timely gauge of overall economic momentum and an early read ahead of other official data. Readings above 50 indicate expansion, below 50 indicate contraction.