The Institute for Supply Management (ISM) launched its first Hospital PMI, which assesses domestic hospital supply chains, and is the first vertical ISM Report On Business. ISM collaborated with the Association for Health Care Resource & Materials Management and Strategic Marketplace Initiatives in creating the index.
According to the press release:
Hospital-specific data has been collected since April 2018, and monthly reports will be released on the fifth business day of the month at 10 a.m. EST. Just as with the established indexes within the ISM Report On Business,, a reading above 50 percent indicates the hospital sector of the U.S. economy is generally expanding; below 50 percent indicates the U.S. hospital sector is generally contracting.
In addition, the Non-Manufacturing Index has been renamed as the Services PMI, with the data and reporting methodology remaining unchanged.
According to the newly launched Hospital PMI report, “the Hospital PMI registered 68.9 percent, up 5.3 percentage points from the June reading of 63.6 percent. This was the second month of growth following two months of decline.”