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Construction Purchasing Managers' Index (PMI)
Definition: Measures the health of the construction sector by asking Purchasing Managers to complete a survey on their organisation's activity. They are asked if activity is higher, the same or lower than the previous month in terms of output, purchases, employment, inventories, orders and prices. A reading above 50 is seen as healthy.
Additional Info: Due to the nature of a purchase manager's job (early access to company data) this indicator is said to lead other reports. The Chartered Institute of Purchasing and Supply (CIPS) releases this data monthly in the UK. Related Terms: Construction Spending - Construction Work Done - Manufacturing PMI
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