Categories: OLD Media Moves

Distributor to stop providing econ data only through Reuters

The distributor of a leading manufacturing index is eliminating a trading advantage some investors currently enjoy by ending the selective early release of the data only through Reuters, reports Brody Mullins of The Wall Street Journal.

Mullins writes, “Markit’s purchasing managers index, or PMI, was previously distributed by Thomson Reuters Corp., which gave the results of the business surveys to investors and other high-paying clients two minutes before they were released to the general public.

“Under the new arrangement, Bloomberg LP and Thomson Reuters will be the primary distributors of the economic data and both will make the information public at the same time.

“Markit produces dozens of economic surveys from more than 30 countries, including the U.S. The data is closely followed by traders because it is considered to be an early indication of developments in the retail and factory sectors, two areas that can move markets substantially.”

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.