- 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.