Ishu Innovative 370 Questions 228 Answers 176 Best Answers 1k Points View Profile Ishu Asked: September 30, 20202020-09-30T12:53:39+05:30 2020-09-30T12:53:39+05:30In: UPSC PRELIMS What is Purchasing Managers Index (PMI) of India? Discuss current Purchasing Managers Index (PMI) of India. economics Share Facebook 1 Answer Recent Rajnish Optimist 146 Questions 256 Answers 236 Best Answers 1k Points View Profile Best Answer Rajnish Optimist 2020-09-30T13:48:56+05:30Added an answer on September 30, 2020 at 1:48 pm Purchasing Managers Index (PMI) of India: As per the IHS Markit purchasing managers index (PMI) report, India’s manufacturing operation experienced an extraordinary contraction in April despite national lockdown constraints. PMI is an index of the prevailing direction of economic trends in the manufacturing and service sectors. For both fields, it is independently measured and then a composite index is built. PMI was originally developed in 1948 by the US-based non-profit group namely Institute of Supply Management (ISM). Now it is published in a variety of different places, depending on the company and country. The PMI data is released for India by the Japanese company Nikkei, but collected and developed by IHS Markit Economics. The PMI is focused on five key areas of the survey: new orders, stock prices, manufacturing, retailer deliveries, and jobs. A number from 0 to 100 is the headline PMI. A PMI above 50 shows an extension, contraction is indicated by something below, and a reading at 50 suggests no improvement. The PMI dataset features a headline number, which indicates the overall health of an economy, and sub-indices, which provide insights into other key economic drivers such as GDP, inflation, exports, capacity utilization, employment and inventories. 0 Reply Share Share Share on Facebook Share on Twitter Share on WhatsApp Cancel the best answer Leave an answerCancel replyYou must login or register to add a new answer. Related Questions Tell us about the Global Gender Gap Report 2021. Tell us about the Global Hunger Index 2020.