Islamabad, Feb 14: In a groundbreaking development for Pakistan’s economic landscape, HBL, in collaboration with S&P Global, has announced the launch of the HBL S&P Global PMI® (Purchasing Managers’ Index™) series for Pakistan. This milestone initiative aims to provide timely and valuable insights into the overall health of the country’s manufacturing sector, marking a significant advancement in economic analysis.
The HBL S&P Global PMI is a globally recognized and standardized economic indicator that will be released monthly. It offers crucial data on various aspects of the economy, helping financial institutions, policymakers, and businesses make informed decisions and strategic plans. The index is expected to enhance investor confidence, improve economic transparency, and support economic planning across multiple sectors.
During the launch event, senior executives from S&P Global highlighted the importance of the PMI as a vital economic instrument. Luke Thompson, Managing Director – 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. We expect the new HBL Pakistan Manufacturing PMI to quickly become a key indicator in the national economic calendar.”
Muhammad Nassir Salim, President & CEO – HBL, emphasized the role of the PMI in strengthening economic confidence. He remarked, “We are pleased to introduce 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 critical resource for policymakers and investors navigating Pakistan’s economic landscape.”
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The HBL S&P Global PMI is designed to foster greater engagement and investment across various sectors, ultimately contributing to Pakistan’s economic growth. The index will be compiled from survey responses from a diverse panel of industries, ensuring a comprehensive representation of the country’s economic performance.
Released on the first working day of each month, the PMI will serve as a reliable and consistent measure of Pakistan’s economic conditions. This initiative underscores HBL and S&P Global’s commitment to enhancing economic transparency and providing data-driven insights for the country’s future.
With the launch of the HBL S&P Global PMI, Pakistan joins the ranks of economies utilizing high-frequency economic indicators to drive informed decision-making and strategic planning, reinforcing the nation’s position in the global economic framework.
