Sri Lanka developing Purchasing Managers' Index
Jan 01, 2016 13:00 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – Sri Lanka is developing a Purchasing Managers' Index (PMI) to provide early indications of economic conditions, based on surveying supply chain executives, an indicator that is a closely watched in other countries.
Central bank governor Arjuna Mahendran said they had already started compiling data but would formally launch the index after about a year or so to ensure there is enough comparative data on which to make assessments.
“The Purchasing Managers' Index is a forward looking index that gives an idea of what purchasing managers in factories are seeing in their order books,” he told a news conference.
The PMI is a closely watched indicator in advanced economies and is based on data compiled from purchasing and supply executives with survey responses reflecting any change in the current month compared to the previous month.
The index covers key indicators like new orders, inventory levels, production, supplier deliveries and employment levels. (Colombo/January 01, 2016)