The Institute for Supply Management indices – 1) Purchasing Managers Index and 2) Services Index were in the financial headlines last week with both slumping below expectations, triggering fears of the start of a recession and sending major indices like the S&P 500 and Dow down by -3% mid-week, before an end-of-week recovery on a decent employment report.
I had dismissed the P123 series for this data previously but forgot why, and decided I should take another look to see if they are usable in my macroeconomic composite. However, I’m confused by what I found.
There is one series listed in MultiCharts under ‘Economic Indicators’ that appears to match, the ‘ISM Manufacturing: PMI Composite Index,’ but I’m not sure of what it is a composite. Moreover, while the series is one of the longer ones available, with data beginning in 1948, it ends abruptly on July 4, 2016.
Does anyone have feedback on why this data ends in 2016? It appears to have the potential for use, especially with the extended data set.
Thank you,
Chris