Meaning of “Purchasing Managers' index” in the English Dictionary

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"Purchasing Managers' index" in Business English

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Purchasing Managers' indexnoun [ S ]

uk us 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” from the Cambridge Business English Dictionary © Cambridge University Press)