Purchasing Managers' Index - PMI Definition
Purchasing Managers' Index (PMI) is an indicator of the economic health of the manufacturing sector published on the first day of the month by the National Association of Purchasing Managers. The PMI measures five factors: new orders, inventory levels, production, supplier delivers, and employment conditions. A PMI over 50% represents expansion of the manufacturing sector, while a PMI under 50% means that manufacturing is declining. A reading at 50% indicates no change.