An Idiot's Guide to PMIs
This subject often divides opinion.
Are PMI's useless or useful?
Let's dive in.
PMI's are considered a leading indicator.
IHS Markit describes their 'Purchasing Managers’ Index' (PMI) as a survey-based economic indicator designed to provide a timely insight into business conditions, providing some of the earliest signals of economic performance.
Great. Let's ask some questions.
What are Purchasing Managers?
And what's so special about them anyway?
Purchasing managers are responsible for making purchases (clue's in the name), which means they receive a lot of information about the firm in order to do their job effectively.
They know when