Services Purchasing Managers Index (PMI)
Source: CMIE Economic Outlook, 1 Finance Research
Best viewed in desktop
What does the Services Purchasing Manager Index (PMI) represent?
- The Services Purchasing Managers Index (PMI) for India, available on a monthly basis, reflects the private sector activity in services.
- The PMI data is based on a survey of businesses, derived from surveying senior executives in the private sector on a monthly frequency, and covers areas such as new orders, inventory levels, production, supplier deliveries, and employment.
What is the significance of Services Purchasing Managers Index (PMI)?
- The services PMI provides real-time insight into the performance of the services sector, which is a significant component of the Indian economy.
- As a leading indicator, the Services PMI provides advanced insight into the services sector, giving investors a better understanding of business conditions and valuable information about the economic backdrop of various markets.
- This data is valuable for policymakers and business leaders to understand the market conditions and helps in formulating economic policies or business strategies.
How to interpret the Services Purchasing Managers Index (PMI) indicator?
- The PMI is typically measured on a scale from 0 to 100. An index value above 50 indicates that the service sector is generally expanding. The higher the number (above 50), the stronger the expansion. Conversely, a value below 50 suggests a contraction in the service sector. The lower the number (below 50), the greater the degree of contraction.
- A consistently high PMI can indicate robust services sector growth, while a low PMI may point to a downturn.
Related HFIs
Assessment and Expectation for Overall Business Situation (Services)
Baltic Dry Index (BDI)
Bank Credit to Services
Capital Expenditure - Central Government
Central Government Tax Collections
Consumer Price Index (CPI) Inflation - Miscellaneous
Domestic Air Passenger Traffic
Domestic Passenger Car Sales
EPFO Additions
Goods and Services Tax (GST) Collections
International Air Passenger Traffic
MGNREGA - Work Demanded
Net Inflows - Services Trade
Port Cargo Traffic
Revenue Earnings - Railway Freight Traffic (Major Commodities)
