Who uses the PMI series?
The Purchasing Managers Index (PMI) has become one of the most closely watched business surveys in the world as a reliable monthly indicator of economic trends, favoured by:
Central banks
The US Federal Reserve, European Central Bank and Bank of England are amongst those that use the PMIs to give them the most accurate advance signals of changing economic growth and inflation.
Central bankers in the EU and US depend upon it to make interest rate decisions
Economists
PMIs are seen as essential data for any serious economist at investment banks, asset management firms and independent research boutiques. A rare voice of authority among the all-too-familiar confusion of official economic statistics.
Business decision makers
Purchasing managers, marketing managers, buyers, planners and other business decision-makers use the PMI's to anticipate changes in demand for goods and services. To these users, the PMIs help contribute to improved production control, more efficient inventory management and more effective marketing.