Back to Glossary
Purchasing Managers' Index (PMI)
Macro & the Fed
A PMI is an index built from a monthly survey that asks company purchasing managers about orders, output, employment and prices.
A reading above 50 means activity expanded compared with the previous month, below 50 that it contracted. In the US the most watched are the manufacturing and services PMIs from ISM and S&P Global. Because they come out right after the month ends, they give an early read on the economy before official data arrive.
Related Terms
2 Links
More in the Guide