PMI shows manufacturing slowed down

Why is it in news?
  • The Manufacturing Purchasing Managers’ Index (PMI) in November touched 56.3 in November.
  • The PMI had touched 58.9 in October.
Details:
  • The reduction in PMI signals slowing down the pace of new orders.
  • Employment declined further as business optimism faded during the month.
  • The spike in COVID-19 cases and the possibility of associated restrictions could could undermine the recovery.
  • The Purchasing Managers’ Index (PMI), compiled by IHS Markit.
  • Anything below the 50-mark indicates the contraction.
Posted by Jawwad Kazi on 2nd Dec 2020
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