◇ 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.
◇ A figure above 50 denotes expansion in business activity. Anything below 50 denotes contraction.
◇ Higher the difference from this mid-point greater the expansion or contraction.
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