Purchasing Managers’ Index (PMI) surveys have become key benchmark indicators of economic conditions in the world’s largest economies and emerging markets. Markit conducts monthly surveys in the manufacturing, services, construction, retail and non-oil sectors of over 30 economies worldwide, polling over 22,000 private sector companies. The survey results generate PMI data that track changes in variables such as output, new orders, inventories, employment and prices.
PMI surveys are based on fact, not opinion, and are the first indicators of economic conditions published each month. The data are collected using identical methods in all countries, so that international comparisons can be made between, for example, manufacturing in China and Japan by using the monthly data.
The indexes achieve considerable press coverage on a regular basis and are widely used by economic analysts in financial institutions, industry and commerce. Notably, central banks in the European Union, United States and Asia use PMI data to help guide monetary policy.
PMI surveys have established highly-regarded track records for accurately anticipating changes in economic conditions in key economies, including the US, the United Kingdom, Germany, France, Italy, Japan, Hong Kong and the Eurozone.