ISLAMABAD, Pakistan – In a landmark move for economic analysis in Pakistan, HBL, in collaboration with S&P Global, has announced the launch of the HBL S&P Global Purchasing Managers’ Index (PMI®) series.
This initiative is set to provide timely and valuable insights into the overall economic health of Pakistan’s manufacturing sector, marking a significant advancement in economic data accessibility.
The HBL S&P Global PMI is a standardized and internationally recognized economic indicator that will be released monthly, offering critical data on various aspects of the economy.
The index is designed to serve as an essential tool for financial institutions, policymakers, and businesses, facilitating informed decision-making and strategic planning across multiple sectors.
During the launch event, senior executives from S&P Global highlighted the significance of the PMI as a key economic instrument.
Luke Thompson, Managing Director at S&P Global Market Intelligence, stated: “The launch of Pakistan’s first-ever PMI is a significant event, contributing to the accessibility of timely and high-frequency data to track economic developments in Pakistan and support decision-making by financial institutions, investors, and businesses.
We expect the new HBL Pakistan Manufacturing PMI will quickly become established as a key indicator in the national economic calendar.”
Muhammad Nassir Salim, President & CEO of HBL, emphasized the impact of the initiative, saying: “We are pleased to launch the PMI for Pakistan, which will enhance investor confidence and transparency in our economy.
This index will not only provide valuable insights for businesses but will also serve as a vital resource for policymakers and investors navigating Pakistan’s economic landscape.”
The HBL S&P Global PMI is expected to play a crucial role in fostering greater engagement and investment across various sectors, ultimately contributing to Pakistan’s overall economic growth.
The index will be compiled based on responses to questionnaires sent to a diverse panel of industries, ensuring comprehensive representation of the economy.
The PMI will be released on the first working day of each month, providing stakeholders with a reliable and consistent measure of economic performance.
This initiative aims to enhance transparency and provide critical insights into Pakistan’s economic conditions, ultimately supporting informed decision-making and strategic planning across industries.
