Purchasing Managers Index (Services)
Measures the outlook of purchasing managers in the service sector across economies such as France, Germany, the Eurozone and the UK, surveying employment, production, new orders, supplier deliveries and inventories. Readings above 50 generally indicate expansion; below 50, contraction.
Related terms
ISM Non-Manufacturing (Services PMI)
A monthly index assessing the performance of US services companies, based on surveys of more than 400 purchasing and supply managers in non-manufacturing firms.
Read full definitionEconomic Indicator
Economic data used by analysts, traders and investors to identify investment and trading opportunities, usually delivered at a macroeconomic level to define the overall health of an economy.
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Account Deficit
A negative balance of trade or payments, where a country’s imports and outgoing payments exceed its exports and incoming payments.
Read full definitionAsian Central Banks
The monetary authorities of Asian countries. They have become increasingly active in major currencies as they manage growing pools of foreign currency reserves arising from trade surpluses, and their market interest can influence currency direction in the short term.
Read full definitionBank for International Settlements (BIS)
A global financial institution owned by central banks, based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City. Its original members were Switzerland, Germany, Belgium, France, Britain, Italy, the United States and Japan.
Read full definitionBank of China
One of China’s four largest state-owned commercial banks. It maintains close relations with the People’s Bank of China in management, administration and cooperation across several areas.
Read full definitionBank of England (BoE)
The central bank of the United Kingdom, acting as the government’s bank and lender of last resort. Headquartered in the City of London, it issues currency and oversees monetary policy, making it the UK equivalent of the US Federal Reserve.
Read full definitionBase Rate
The interest rate a central bank, such as the Bank of England or Federal Reserve, charges to lend money to commercial banks. Adjusting the base rate helps a central bank regulate the economy by encouraging or discouraging spending as required.
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