Purchasing Managers' Index Shows Optimism

The UK-based Purchasing Managers’ Index (PMI) – a measure of the buying habits of those responsible for securing materials for manufacturing firms – ventured into positive territory for the first time since November 2007 with a value of 53.7. Any index reading greater than 50.0 indicates a net increase in buying activity. The PMI report is an extremely important indicator for the financial markets as it is considered the best indicator of factory production.

The PMI is compiled by the Chartered Institute of Purchasing & Supply and is issued one day after the end of the month it refers to. For more information visit: www.cips.org