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PMI May, at its highest point since August 2008: Philippine Economy Expanding.
The Purchasing Managers’ Index (PMI) for May at 55.1 showed a consistently expanding economy starting in April 2009. This month’s PMI registered the highest index since August 2008. The index indicates that the economy expanded in May.
The PMI is based on interviews with a statistical sample of 400 purchasing and supply managers from top manufacturing companies -- 200 in the National Capital Region and 200 outside the National Capital Region.
Interviews are conducted during the last five days of the current month to cover economic activities for that month as compared to activities in the previous month. The results are reported during the first week of the following month.
The PMI is based on actual conditions as presented by the purchasing and supply managers and is considered an effective foresight of conditions in the economy as a whole.
A PMI below 50 suggests a contraction of the economy, while a PMI above 50 indicates expansion.
PMI is a joint project of the
Philippine Institute for Supply Management (PISM),
Foundation of the Society of Fellows in Supply Management
(SOFSM) and The Asia-Pacific Centre for Research.
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PMI indices are also available by industry sectors, by area, PISM membership, company size, and percent of export sales.
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