The Philippine Institute for Development Studies (PIDS) will hold a seminar on “Purchasing Managers' Index (PMI) Philippines: A Leading Economic Indicator" on October 19, 2016, from 2:00 p.m. to 4:00 p.m., at the PIDS Conference Room, 18th Floor, Three Cyberpod Centris - North Tower, EDSA corner Quezon Avenue, Quezon City.
Dr. Aniceto “Nick” Fontanilla, Director and President of i-Metrics Asia-Pacific Corporation and Director and Chairman of The Asia-Pacific Centre for Research (Acre), Inc., will discuss the PMI and its advantages in the business decisionmaking process. The PMI is a leading economic indicator reflecting purchasing managers' acquisition of goods and services each month as compared to the previous month. It is based on a survey conducted monthly among a random sample of top corporations engaged in manufacturing, retail and wholesale, and services.
The PMI started in 1931 during the Great Depression to provide the President of the United States and economic planners with up-to-date information on the health of economy, and supplement existing economic data. It was designed to provide reliable fact-based indicators each month covering all private sector economic activities.
At present, the Philippines is among the 38 countries conducting the PMI. All country PMIs use the same methodology and correlate very closely with comparable official data such as the gross domestic product. PMI is also among the most closely watched economic indicator in North America, Europe, and the Far East.