Purchasing managers' index
A purchasing managers’ index, or PMI, is a survey-based indicator of business conditions, often covering manufacturing or services. Readings above 50 generally signal expansion compared with the previous month, while readings below 50 signal contraction; the distance from 50 is not a percentage growth rate.
In a hypothetical release, a manufacturing PMI rises from 48 to 49. It still signals contraction, but the survey indicates a less widespread deterioration.
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