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MANUFACTURING PMI RISES TO 60.9
Why in the news?
- The Manufacturing PMI for June surged to 60.9, showcasing robust growth in manufacturing and services sectors.
- Job creation has accelerated to its highest pace in over 18 years, reflecting expanding business activity.
Understanding Purchasing Managers Index (PMI):
- A survey-based metric gauging changes in key business factors compared to the previous month.
- Provides current and future business condition insights to decision makers, analysts, and investors.
- Calculated separately for manufacturing and services, then combined into a composite index.
- Scores range from 0 to 100; above 50 indicates growth, below indicates contraction.
Source: SIQ
- A reading at 50 signifies no change.
- Decline from the previous month’s PMI suggests economic contraction.
- Typically released monthly, PMI serves as a leading indicator of economic trends.
- Compiled globally by IHS Markit, a leader in data and analytics for major industries, part of S&P Global.
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