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Purchasing Managers' Index

Give your procurement teams the most up-to-the-minute data with the UK Markit/CIPS Purchasing Managers’ indices (PMIs) - a highly accurate set of facts about current industry conditions in manufacturing, construction and services.

Purchasing professionals know the importance of having timely, reliable and regular data to guide their decision making. Published monthly, PMIs are a set of surveys from selected companies which provide a summary of general business and economic conditions in the private sector. They will offer invaluable guidance to your purchasing team, your CEO and Board, helping them to gauge general price trends, assess supplier delivery times, support them in negotiations with suppliers and use as benchmarking tools.

How

Using the Markit/CIPS Purchasing Managers’ Indices will demonstrate that you are committed to using accurate, fact-based data which are a recognised measurement of industry activity and used by the Bank of England. Forming a part of a range of PMIs conducted in 26 countries, exactly the same methods of data collection are used, offering you a reliable means of making international comparisons.

Widely used across the manufacturing, construction, retail and service sectors, the Markit/CIPS PMIs are often considered to be more accurate than official data, and are produced more frequently ahead of official UK Government data. The monthly surveys will enable you to access a range of data showing early trends from private sector businesses, such as stock levels, new orders, output, employment and prices.

Benefits

Accuracy: Procurement staff can rely on solid, fact-based information, helping them  make confident, informed decisions
 
Frequency: Monthly publication of PMIs will give your purchasing function a regular industry update, assisting with forward planning and detailed sector-specific analysis
 
Parity: Using the same methodology to gather data across all participating countries, PMI surveys allow your purchasing professionals to make like-for-like international comparisons
 
Support: PMIs can be used by your purchasing managers for a range of activities, such as assessing price trends, negotiating with suppliers and monitoring trends in customer markets and export destinations

Contact

For more information on how the Markit/CIPS PMIs can help you give your purchasing team and business high-quality, accurate and reliable industry data, contact us at dan.evans@markit.com.