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English definition of “Purchasing Managers' index”

Purchasing Managers' index

noun [S]     ( abbreviation PMI) ECONOMICS
a measurement of economic activity , based on how many purchasing managers in particular industries say that there has been an increase in activity in the past month . An index of more than 50% means that the economy is growing : A PMI of 53.4 indicates that the growth rate of the manufacturing sector slowed compared to the previous month .
(Definition of Purchasing Managers' index noun from the Cambridge Business English Dictionary © Cambridge University Press)
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