that came. The ISM Manufacturing PMI offers an inside view of the ongoing progress of the manufacturing sector. New orders received from customers, employment growth or decrease, supplies. This can lead to erroneous assessments at times. Readings above 50 point to an increased activity in the service sector. The Direction and rate of change column provides quick insight into the state of the economy based on these figures. Before long the eurusd pair was up over 100 pips. This is the number that the market is anticipating. Take a look at the chart below which shows the price action after the Mar 1, 2018 Manufacturing PMI report: This is the 30-minute EUR/USD chart leading upto the March 1, 2018 Manufacturing PMI release. We will discuss both of these key economic releases in this article. The service sector contributes much to the country's GDP, therefore PMI is considered a leading indicator of a beginning recession or growth.
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The next 30 minutes shows additional strength and the bullish price movement continued for several more hours. We also see the prior months Index figure and the Percent Point change between the two months. The manufacturing sector is an integral component of the overall economic health of a country. And contrary to this, if there is a downtick in the PMI manufacturing index, meaning there is less manufacturing output, then this is likely to lead to weaker economic conditions. This is useful in comparing the two component reports.
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