Habib Bank Limited (HBL) and global financial analytics firm S&P Global have jointly launched Pakistan’s first-ever Purchasing Managers’ Index (PMI) to track the country’s manufacturing sector.

The initiative, announced by HBL President Muhammad Nassir Salim, aims to enhance economic analysis and provide valuable insights into Pakistan’s industrial performance.

The PMI is a standardized economic indicator derived from a survey of various industries, ensuring a comprehensive representation of the manufacturing sector.

The index will be released on the first working day of each month, offering a reliable and consistent measure of economic performance.

During the launch event, Luke Thompson, Managing Director of S&P Global Market Intelligence, emphasized the significance of this development.

Speaking on the occasion, he said the launch of Pakistan’s first-ever PMI is a major step towards providing timely and high-frequency data to monitor economic trends. He said it will support decision-making for financial institutions, investors, and businesses. 

The HBL S&P Global PMI, as an internationally recognized economic indicator, will offer critical data on the country’s economic health.