Current Affair Diary 4/11/2020

Purchasing Managers’ Index

✓As per the IHS Markit India Purchasing Managers’ Index (PMI), India’s manufacturing output showed the strongest growth in 13 years in October 2020.

✓Purchasing Managers’ Index (PMI) rose from 56.8 in September to 58.9 in October.

✓Reasons:
√Increase in Sales;
√ Rise in Export Orders √Improvement in IIP

✓PMI is an indicator of business activity – both in the manufacturing and services sectors.

✓It is calculated separately for the manufacturing and services sectors.

✓A composite index is also constructed.

✓The PMI summarizes whether market conditions as viewed by purchasing managers are expanding, neutral, or contracting.

✓Purpose: To provide information about current and future business conditions to company decision makers, analysts, and investors.

✓The PMI is usually released at the start of every month.

✓PMI is compiled by IHS Markit for more than 40 economies worldwide.

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06/11/2020
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