Purchasing Managers’ Index – PMI
Overview:
The Purchasing Manager’s Index (PMI) is an indicator of economic health for the manufacturing and service sectors. The purpose of PMI is to provide information about current business conditions to company decision-makers, analysts, and purchasing managers. The PMI is very important, not only for servicing but also for the economy as a whole. The magic number is 50. A reading of 50 or higher generally indicates that the industry is expanding. This is based on Nikkei/IHS Markit Survey Report.
India Service PMI Report-DECEMBER 2022
Services PMI:
- THE PMI SERVICES INCREASED TO 58.5 IN DECEMBER 2022 FROM 56.4 IN JULY 2022.
- THIS IS ABOVE THE MARKET CONSENSUS OF 55.
- IT SHOWS GROWTH EXPANSION IN THE SECTOR COMPARED TO PREVIOUS MONTHS.
Output and New Order:
IT INDICATES THE STRONGEST SERVICE SECTOR EXPANSION SINCE JUNE, SUPPORTED BY A FASTER RISE IN BOTH NEW ORDERS
AND OUTPUT, AMID FAVORABLE MARKET CONDITIONS.
Inflation:
INPUT COST INFLATION ACCELERATED AND WAS ABOVE ITS LONG RUN AVERAGE, AMID HIGHER PRICES FOR ENERGY, FOOD, TRANSPORTATION, AND WAGE COSTS.
India Services PMI Report- DECEMBER 2022
India Manufacturing PMI Report- DECEMBER 2022
Manufacturing PMI:
- PMI FOR MANUFACTURING CLIMBED TO 57.8 IN DECEMBER 2022 FROM 55.7 IN THE PRIOR MONTH.
- THIS VALUE IS THE HIGHEST READING SINCE OCTOBER 2020.
Growth:
THE OUTPUT GROWTH HIT A 13-MONTH HIGH, NEW ORDERS ROSE THE MOST SINCE FEBRUARY 2021, AND BUYING LEVELS
GREW AT THE STRONGEST PACE SINCE MAY 2020
Foreign Sales:
FOREIGN SALES IMPROVED, BUT THE PACE OF INCREASE WAS THE SOFTEST IN 5 MONTHS. LEAD TIMES WERE UNCHANGED,
AS SUPPLIERS WERE COMFORTABLY ABLE TO ACCOMMODATE THE UPTICK IN INPUT DEMAND.
Employment:
EMPLOYMENT GAINED FOR THE TENTH MONTH IN A ROW IN DECEMBER 2022.
India Services PMI Report- DECEMBER 2022
Note:
- PMI stands for Purchasing Managers’ Index.
- PMI is one of the closely watched indicators of business activity across the world.
- The magic number is 50. A reading of 50 or higher generally indicates that the industry is expanding.
- Share of manufacturing sectorin GDP in India is nearly 17%.
- Share of service sector in GDP in India is nearly 54.15%.
- The PMI is prepared by IHS Markit.
- PMI was first preparedby ISM USA in 1948.
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