What is the Purchasing Managers' Index (PMI)?

Welcome to BeachBum Trading's short [What is the Purchasing Managers' Index (PMI)?] video 🎥 on the Purchasing Managers' Index (PMI)! The PMI is an economic indicator that measures the level of activity in the manufacturing and services sectors of the economy. In this video, we'll discuss how it is calculated, what it indicates, and how it can be used to gauge economic outlook.

The PMI index is calculated by surveying Purchasing Managers around the world and asking them about their plans for the future. This information is then used to produce an index score which can indicate how an economy may be doing in the short-term.

A higher PMI score implies an expectation of economic growth, while a lower score suggests economic recessions. Furthermore, it is known to forecast short-term economic changes with a high degree of accuracy.

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