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.