- Wealth PMS (50L+)
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)