What the preliminary survey can tell us
Flash readings arrive before the final monthly releases and can be revised. September results are pending; no unverified numerical consensus or prior reading is included here.
The manufacturing headline PMI and the services business activity index measure different parts of the economy. The composite output index combines manufacturing output and services activity; it is not a simple average of the two headline PMIs.
Why stocks can react in either direction
Stronger activity can support the earnings outlook, while higher prices can raise concerns about interest rates. Read new orders, employment and pricing alongside the headline rather than treating a strong number as automatically bullish.
Official release schedule
Before comparing the numbers
01
9:45 AM ET · During trading
The release arrives after the opening bell, not in the pre-market session.
02
50 is a reference point
Above 50 generally indicates improvement from the previous month; it is not a GDP growth rate.
03
Keep the survey provider consistent
Compare S&P Global readings with the same series and release stage. ISM is a separate survey.
Flash PMI questions
Is this the ISM report?
No. S&P Global produces this release. ISM publishes its own manufacturing and services surveys on separate dates.
Can the flash result change?
Yes. The final release includes additional survey responses and may revise the preliminary reading.