India’s purchasing managers’ index (PMI) declined to a 4-month low at 55.3 in February owing to a rise in input costs, according to the S&P Global India Manufacturing PMI report. In January, the manufacturing PMI stood at 55.4. The headline figure, however, remained above its long-run average of 53.7. A reading above 50 indicates an overall increase in output compared to the previous month.
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It is an index of the prevailing direction of economic trends in the manufacturing and service sectors. It is an economic indicator, which is derived after monthly surveys of different companies.
There are two types of PMI — Manufacturing PMI and Services PMI. A combined index is also made using both manufacturing PMI and services PMI.
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