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Definition: Flash Services PMI
Flash Services PMI is monthly purchasing managers’ index for the private services sector. Flash Services PMI is produced by Markit Group. As it is produced every month it is called Flash Services PMI. PMI is generally used as an indicator of the state of the economy PMI is generally used as an indicator of the state of the economy.
Services PMI is calculated by conducting survey of 400 executives of the private companies in services sector. It is calculated for 30 different countries separately. It indicates how the services sector is performing over the previous month. Services PMI index of 50 indicates no changes in the state of service sector over the previous month.
PMI Index of more than 50 indicates improvement in the services sector over the previous month. And PMI index of less than 50 indicates deterioration in the services sector.