UPSC Current – Purchasing Managers’ Index (PMI)

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Purchasing Managers’ Index (PMI)

Tags: GS 3, Growth & Development

  • Why in News
  • Purchasing Managers’ Index (PMI) rose from 56.8 in September to 58.9 in October.
  • India’s manufacturing sector activity improved for the third straight month in October.

PMI

  • PMI or a Purchasing Managers’ Index (PMI) is an indicator of business activity — both in the manufacturing and services sectors
  • It is a survey-based measures that asks the respondents about changes in their perception of some key business variables from the month before
  • It is calculated separately for the manufacturing and services sectors and then a composite index is constructed.
  • Reading of PMI
  • PMI above 50 means an expansion
  • PMI below 50 means contraction
  • PMI 50 means no change
  • The Rate of expansion or contraction is also judged by comparing PMI with the previous month data.
  • The PMI is usually released at the start of the month. It is, therefore, considered a good leading indicator of economic activity.
  • The PMI also gives an indication of corporate earnings and is closely watched by investors as well as the bond markets.

Source:TH




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