|
Purchasing Managers' Indices (PMI) are economic indicators derived from monthly surveys of private sector companies. The two principal producers of PMIs are Markit Group, which conducts PMIs for over 30 countries worldwide, and the Institute for Supply Management (ISM), which conducts PMIs for the United States. Markit Group and the ISM separately compile The Purchasing Managers' Index (PMI) surveys on a monthly basis by polling businesses which represent the makeup of the respective business sector. The surveys cover private sector companies, but not the public sector. The current ISM Purchasing Managers' Index (PMI) survey can be found under "ISM Reports On Business" on the (ISM home page ), or directly on (this page ). The surveys are released shortly after the end of the reference period. The actual release dates depend on the sector covered by the survey. Manufacturing data are generally released on the first working day of the month, followed by construction on the second working day and services on the third working day.〔See release dates section〕 The ISM began to produce the report for the USA in 1948. The data for the index are collected through a survey of 400 purchasing managers in the manufacturing sector on five different fields, namely, production level, new orders from customers, speed of supplier deliveries, inventories and employment level. Respondents can report either better, same or worse conditions than previous months. For all these fields the percentage of respondents that reported better conditions than the previous months is calculated. The five percentages are multiplied by a weighing factor (the factors adding to 1) and are added.〔 The Chicago-PMI survey, owned by Deutsche Börse,〔Chicago PMI parent finds buyer in Deutsche Börse http://www.chicagobusiness.com/article/20110627/NEWS01/110629885/chicago-pmi-parent-finds-buyer-in-deutsche-b%C3%B6rse accessed 5 October 2015〕 registers manufacturing and non-manufacturing activity in the Chicago Region. Investors value this indicator because the Chicago region somewhat mirrors the United States overall in its distribution of manufacturing and non-manufacturing activity. The predominant operator and owner of Purchasing Managers Index series outside the USA is the Markit Group 〔 Markit issue most of their PMIs in partnership with other companies.〔See Markit Economics Press Releases http://www.markiteconomics.com/Survey/Page.mvc/PressReleases accessed 4 October 2015〕 The Markit and ISM Purchasing Managers Indices include additional sub indices for manufacturing surveys such as new orders, employment, exports, stocks of raw materials and finished goods, prices of inputs and finished goods.〔(Markit PMI )〕 ==Formula, calculation, and reading== PMI data are presented in the form of a diffusion index, which is calculated as follows:〔 : where: *P1 = Percentage number of answers that reported an improvement. *P2 = Percentage number of answers that reported no change. *P3 = Percentage number of answers that reported a deterioration. Thus, if 100% of the panel reported an improvement, the index would be 100.0. If 100% reported a deterioration, the index would be zero. If 100% of the panel saw no change, the index would be 50.0 (P2 * 0.5). Therefore, an index reading of 50.0 means that the variable is unchanged, a number over 50.0 indicates an improvement, while anything below 50.0 suggests a decline. An index of 50.0 would arise if either all respondents reported no change or the number of respondents reporting an improvement was matched by the number of respondents reporting a deterioration. The further away from 50.0 the index is, the stronger the change over the month, e.g. a reading of 55.0 points to a more frequently reported increase in a variable than a reading of 52.5.〔 The degree of confidence experienced by respondents reporting an improvement and the degree of concern experienced by respondents reporting a deterioration are not factored into the index. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Purchasing Managers' Index」の詳細全文を読む スポンサード リンク
|