Global Manufacturing PMI
Definition of 'Global Manufacturing PMI'
The following is from JP Morgan's marketing material and as such is promotional in nature:
- It is the earliest indicator of Global economic and business conditions, produced on a monthly basis ~ released at the start of every month with data relating to the month just passed.
- It has a strong track record of accurately anticipating global GDP data.
- It is derived from data produced using internationally comparable methodologies covering aound 10,000 survey respondents in over twenty countries, which collectively represent 76% of global economic output.
- It has wide sector coverage, including both manufacturing and services.
The Global PMI series is based on the results of surveys carried out in the USA by ISM, in Japan, the UK, Germany, France, Spain, Italy, Russia, Ireland, Greece, Austria, the Netherlands, Poland and Czech Republic by NTC Research and in a number of other countries: Denmark, Israel, Hungary, South Africa, Australia, Switzerland and Singapore. These countries together account for an estimated 76% of global gross domestic product.
The Global PMI provides the first indication each month of global business conditions, based on data collected from around 10,000 purchasing executives. It is compiled by NTC Research. The data enable decision makers in the financial world to make better judgments much earlier than would otherwise be the case.
The wide coverage of the indexes, together with their speed of production, accuracy and direct comparability, make them unmatched as economic indicators. They provide truly "must have" information for financial institutions of all kinds and for major corporations world-wide. Questions are asked about real events and are not opinion based. Data are presented in the form of diffusion indices, where an index reading above 50.0 indicates an increase in the variable since the previous month and below 50.0 a decrease.
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