ISM® Makes Annual Adjustments to Seasonal Factors for Manufacturing PMI®, Non-Manufacturing NMI® and Diffusion Indexes
TEMPE, Ariz., Jan. 24, 2019 /PRNewswire/ -- Based on input from an independent expert, Institute for Supply Management® (ISM®) recently announced the completion of its annual adjustments to the seasonal factors used in the monthly ISM® Manufacturing Report On Business® and the monthly ISM® Non-Manufacturing Report On Business®. Purchasing managers and economists who track these indexes will note that changes are effective with the January 2019 ISM® Manufacturing Report On Business®, which is scheduled to be released on February 1, 2019, and the January 2019 ISM® Non-Manufacturing Report On Business®, which will be released on February 5, 2019.
Seasonal adjustment factors are used to allow for the effects of repetitive intra-year variations resulting primarily from normal differences in weather conditions, various institutional arrangements, and differences attributable to non-movable holidays. It is standard practice to project the seasonal adjustment factors used to calculate the indexes one year ahead (2019).