The PMI is the purchasing managers index.
Boring, right? Sounds like something from economics class, right?
Well, it's pretty exciting once we break it down.
Let's start with a funny little analogy first.
Remember when you were a kid and your parents would try to figure out how you were doing in school? How your grades were? How productive you were after school?
They'd ask you - what assignments are coming in? What's in the pipeline? How strong are you right now on what you have to do this week?
Well, the Institute for Supply Chain Management asks these kinds of questions to hundreds of companies in different sectors in the U.S.
To see the rest of the explanation watch the quick video above.
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