1. It is a comprehensive economic monitoring index system released every month, which is divided into manufacturing PMI and service PMI, and some countries have also established construction PMI. Among them, 50% PMI index is the watershed between prosperity and recession.
2. Internationally, PMI is a comprehensive economic leading indicator system released every month, covering the fields of production and circulation, manufacturing and non-manufacturing. It is divided into manufacturing PMI and service PMI, and some countries have also established construction PMI. Manufacturing PMI originated in the United States in the 1930s. After decades of development, the system now includes business activity indicators such as new orders, output, distribution of employees and suppliers, inventory, price, backlog orders, new export orders and imports.
The above indicators are synthesized according to the data obtained from the monthly questionnaire survey of purchasing managers of sample enterprises, and then the five categories of indicators such as production, new orders, employees, supplier distribution and inventory are weighted to obtain the manufacturing PMI comprehensive index. The PMI index system of service industry includes: business activities, input price index, cost level, employees, expectations of future business activities, etc. , but it has not been established for a long time and has not yet formed a comprehensive index.
3. Each index of 3.PMI reflects the reality of business activities, while the comprehensive index reflects the overall growth or decline of manufacturing or service industry. The survey adopts the form of non-quantitative questionnaire, and the respondents only need to make a qualitative judgment on each question and choose one of the three answers (rising, unchanged or falling). Comprehensive summary is to count the percentage of all kinds of answers, and reflect the cyclical state of economic activities through the dynamic changes of various indicators. The PMI business reports of manufacturing and non-manufacturing industries are released on the first and third working days of each month, which is far ahead of the statistical reports of other government departments, and the selected indicators are ahead. Therefore, PMI has become a timely and reliable leading indicator for monitoring economic operation, and has been widely recognized by the government, business circles, economists and forecasting experts.