PMI Data: The country’s services in February increased from 56.5 of January to 59. With this, Composite PMI has increased from 57.7 in February to 58.8 in February. Explain that composite PMI, services are a combined form of PMI and manufacturing PMI. The PMI is a mixed index that is used to assess the position of manufacturing and service sector. 50 in PMI figures is considered to be the base. If the PMI figures are above 50, it will be seen as an extension of business activities and if there are figures below 50, then business activities are seen as a decline. PMI is released every month.
Service PMIs include six industries, including transport and communication, business services, personal services, financial intermediates, computing and IT and hotels and restaurants.