Economy

India Composite PMI goes to 61 from 59.6 in Feb

Mar 03, 2011

HSBC India Composite PMI has gone to 61.0, up from January’s 59.6. Services has strongly increased the PMI – the composite is a mix of the Manufacturing (last at 57.9) and services. Anything about 50 is expansion and below is contraction.

The funniest comment I read today was

I am not quite sure what a purchasing manager is – and I have no recollection of ever having met one – but everyone now seems to regard their views, as collected and processed into various indices as being frightfully significant.

(Hat tip: Tejus Sawjiani)

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