InvestorQ : Can you tell me what does the PMI services at 55.1 indicate?
Anamika Sodhani made post

Can you tell me what does the PMI services at 55.1 indicate?

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Angel dcosta answered.
3 weeks ago
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The PMI (purchase manager index) is announced separately for the manufacturing sector and the services sector with the service PMI being announced a couple of days after the PMI manufacturing is announced. This data pertains to October 2022 wherein the PMI services was higher at 55.1. For PMI, 50 is the cut-off and a figure of above 50 reflects that the service sector expansion with positive momentum. Most service providers have raised rates but still did not have any trouble getting new work orders. Incidentally, services sector has been a major contributor to inflation in last few months in India

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