This monthly index tracks the health of the manufacturing sector in the United States. Private sector companies report improvement or deterioration in key quantitative indicators like new orders, production, inventories, and employment levels. Responses are amalgamated into an index whose value indicates expansion or contraction of the manufacturing sector. A PMI of 50% means equal numbers of respondents reported improvement and deterioration and there is no change from the previous month; PMIs above and below 50% indicate expansion and contraction of the sector respectively.
Source: Markit Economics