Purchasing Managers’ Index (PMI)

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    • Recently, The PMI data was released which showed that India’s service sector activity has lost growth momentum and eased to a six-month low due to slow new business inflows amid inflationary pressures and competitive conditions. 

    About Purchasing Managers’ Index (PMI)

    • The PMI data is released at the beginning of every month.
    • It is an indicator of the overall health of the economy.  
    • The purchasing managers’ index (PMI) is an economic indicator based on surveys of businesses in a given sector.
    • The most common PMI surveys are the manufacturing PMI and the services PMI.
      • It is based on a monthly survey of supply chain managers across 19 industries, covering both upstream and downstream activity. 

    Source: IE