Institute for Supply Management [ISM] Non-Manufacturing Index

The ISM Non-Manufacturing Index measures services by surveying about 370 purchasing executives.  The report focuses on industries such as finance, insurance, real estate, utilities, and communication.  The survey gives purchasing executives outlook for their business.  50% is the break even point for the index.  A report above 50% shows growth and below 50% hints to decline.  The 3rd business day of each month at 10:00 [eastern] the Index is reported.  The survey has a MODEST impact on mortgage rates.