ISM Index

A national manufacturing index based on a survey of purchasing executives at roughly 300 industrial companies. Signals expansion when the PMI is above 50 and contraction when below. It gets reported the first business day of the month at 10 a.m. Eastern. Data for prior month. Nearly always moves markets. Extremely timely -- and this is the king of all manufacturing indices. Considered the single best snapshot of the condition of the factory sector.

POTENTIAL IMPACT ON INTEREST RATES: HIGH