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MANUFACTURING PURCHASING MANAGERS’ INDEX (PMI) RELEASED

MANUFACTURING PURCHASING MANAGERS’ INDEX (PMI) RELEASED

Context

IHS Markit India has released the Manufacturing Purchasing Managers’ Index (PMI).

Details  

  • It stands at 55.5 for April, which was 55.4 in March.
  • A value in PMI above 50 denotes expansion whereas a score less than 50 signifies contraction.
  • If the figure is higher than the previous month’s then the econ-omy is expanding at a faster rate. If it is lower than the previous month then it is growing at a lower rate.
  • IHS Markit is a global leader in information, analytics and solutions for the major industries and markets that drive economies worldwide.

About Manufacturing Purchasing Managers’ Index (PMI)

  • It is an indicator of business activity -- both in the manufacturing and services sectors.
  • It is calculated separately for the manufacturing and services sectors and then a composite index is constructed.
  • It is different from the Index of Industrial Production (IIP).

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