Services PMI (NMI) by Country
Latest released Services PMI (NMI) value for every supported currency, with the previous reading, the change between releases, reference date, frequency, unit, and source.
/api/v1/announcements/{currency}/nmi. Non-USD endpoints require an API key query parameter.| Country / Currency | Latest | Previous | Change | Reference | Frequency | Unit | Source |
|---|---|---|---|---|---|---|---|
|
United States
USD · US Dollar
|
— | — | — | — | Monthly | Index | FRED (BEA/BLS/Fed) |
What is Services PMI (NMI)?
The Services / Non-Manufacturing PMI surveys purchasing managers in the services sector — banks, retailers, transport, hospitality — on the same diffusion-index basis as the manufacturing PMI. Above 50 indicates expansion; below 50 contraction.
Why it matters for FX
Services dominate GDP and employment in most advanced economies, so the services PMI is often a more economically meaningful read than its more famous manufacturing sibling. It also captures wage-sensitive activity, making it a useful leading indicator for services inflation and therefore for the central bank's rate path.
How to read this page
Track the services PMI against manufacturing PMI to spot divergences — a strong services / weak manufacturing combination has been the dominant pattern across developed markets in recent years. Prices and employment sub-indices are the key feed-throughs to CPI and the labour market.
What to watch for
- Services-manufacturing divergence
- Services prices sub-index for wage / inflation pressure
- Employment sub-index as an early labour-market read
- Composite PMI (manufacturing + services blended)
- Backlog of work for capacity-constraint signals