• UGI USER
  • Apr 24, 2024
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APRIL FLASH PMI INDICATES ACCELERATED GROWTH IN ECONOMIC OUTPUT.

Why in the news?

April Flash PMI indicates rapid economic growth, with manufacturing and services sectors at highest levels in 14 years.

source:eduprep

About the April Flash PMI Indicates Acceleration in Economic Output:

  • Combined output from India’s manufacturing and services sectors is projected to have grown at the quickest pace in nearly 14 years in April, as per the HSBC Flash Purchasing Managers’ Index (PMI).
  • Services activity likely surged to a three-month high, driven by a notable increase in new orders, particularly in the international market.
  • Manufacturing sector’s Flash PMI remained steady at 59.1, while services PMI rose from 61.2 in March to 61.7 in April, indicating sustained growth momentum.
What is Purchasing Managers Index (PMI) ?

  • Purchasing Managers Index (PMI) is a survey-based measure of changes in key business variables compared to the previous month.
  • It provides information on current and future business conditions to decision-makers, analysts, and investors.
  • PMI is calculated separately for manufacturing and services sectors, with a composite index also generated.
  • Scores range 0-100.
  • Above 50 signifies expansion; below, contraction.
  • Released monthly, a leading economic indicator.

Source: https://www.thehindu.com/business/Economy/combined-manufacturing-services-output-rose-at-the-fastest-pace-in-nearly-14-years-flash-pmi-data/article68097297.ece