Data Accuracy
PMI data is widely accepted as a valuable predictor of official data and an advance global economic indicator. Central bankers in the EU and US depend upon it to make interest rate decisions.
The PMIs:
- show what is actually happening at an individual company level; they are not concerned with opinions or forecasts
- are tested against reality every month by banks and economic analysts worldwide.
- use the same methodology internationally, allowing for direct comparisons between countries and regions.
For an international comparison,
click here
For more information on indicator performance in individual countries,
click here
"Survey data such as the Purchasing Managers Index (PMI), are an important part of the ECB’s economic analysis. This reflects their close historic correlation with economic growth and the lack of reliable and timely hard data for the euro area. The manufacturing PMI is a much better guide to ECB rate decisions than headline inflation."
Darren Williams
Senior European Economist
Alliance Bernstein Investment Research and Management.