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Definition of 'PMI Services Flash'

A "Flash Index" is an index that provides and instantaneous or quick reading of what it is measuring. It is usually compiled the business day immediately after the period it is reporting on hence giving it its name "flash."

The PMI is the Purchasing Managers Index.

The PMI Services are published monthly by Markit Economics (in conjunction with sponsors) and are based on surveys of over 400 executives in private sector service companies. The surveys cover business and personal services, financial intermediaries, transport and communication, computing & IT and hotels and restaurants.

Because this is a flash index it provides an early estimate of the Services Purchasing Managers' Index (PMI). i.e. this will be a good indication of what the final index will look like.

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