ISM Non-Manufacturing PMI
Business confidence indices are a big group of macroeconomic indicators, showing the current state and the prospects of doing business in the country. These are one of the earliest indicators to assess the economic situation that’s why their role as leading indicators is especially important. There are many different indices reflecting the conditions of doing business and the manager’s expectations concerning the future: indices of the current conditions — to understand a current sentiment; expectations indices — to forecast the prospects; indices of industry and indices of the service sector; indices of new orders, employment, delivery, prices, etc. A significant part of the business planning is based on this data. The data concerning the business confidence are used to forecast the necessary level of stock (both raw material and final product), prices, number of staff, etc. In general, the necessary budget for proper business functioning is based on the forecast concerning the business confidence.
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