PMI by IHS Markit is one of the most closely watched economic market-moving indicators in the world.
The PMI™ is a leading indicator that is widely seen as an accurate and timely indicator of business conditions that helps analysts and economists to correctly anticipate changing economic trends in official data series such as gross domestic products (GDP), industrial production, employment, and inflation
Because PMI data are sometimes released months ahead of comparable official data, the PMI surveys are ranked among the world’s most market moving economic data releases.
Purchasing Managers’ Index™ (PMI™) data are compiled by IHS Markit for more than 40 economies worldwide, which account for 89% of global gross domestic product (GDP). The monthly data are derived from surveys of senior executives at private sector companies in manufacturing and services sectors totalling around 28,000 companies.
The most important indicators for market participants are the Global Composite PMI (manufacturing and services), by geography and major countries (Australia, Eurozone, France, Germany, Japan, United Kingdom, United States), because they have a high correlation with stock prices, as well as the Manufacturing and Services PMI.
Manufacturing PMI surveys are released on the first working day of each month, followed by services on the third working day. A composite PMI is also published alongside the services PMI. A composite PMI is also published alongside the services PMI.
Flash PMI™ (Purchasing Managers’ Index™) data are published by IHS Markit and are early estimates of the company’s final PMI numbers. The Flash PMI data are published approximately one week before final PMI data each month and are typically based on 85%-90% of total PMI responses received each month
The PMI dataset features a headline number, which indicates the overall health of an economy, and sub-indices, which provide insights into other key economic drivers such as GDP, inflation, exports, capacity utilization, employment and inventories. The PMI data are used by financial and corporate professionals to better understand where economies and markets are headed, and to uncover opportunities.
The Purchasing Managers’ Index™ (PMI™) is a survey-based indicator of business conditions, which includes individual measures (‘sub-indices’) of business output, new orders, employment, costs, selling prices, exports, purchasing activity, supplier performance, backlogs of orders and inventories of both inputs and finished goods, where applicable.