New PMI for Myanmar to be launched on 1st April 2017
Yangon, 1st March 2017 – Shenton Institute of Applied Finance (SIAF) announced today that it has signed an MOU last week (24th February 2017) with Singapore Institute of Purchasing and Materials Management (SIPMM) to publish a new Myanmar Purchasing Managers’ Index (PMI) on a monthly basis.
PMI surveys are one of the closely watched indicators of economies. The new Myanmar PMI will provide a projection into Myanmar’s monthly economic situation and will complement existing indices.
The new Myanmar PMI is set to become a key barometer of Myanmar’s economy. The PMI survey is based on economic sectors, and weighted on each sector’s contribution to the Gross Domestic Product (GDP). The PMI data is collected monthly from replies to questions asked of purchasing or senior managers intra-Myanmar in over 200 companies.
The new Myanmar PMI is a composite index based on the diffusion indices of leading market indicators, with varying weights applied. Diffusion indices have the properties of leading indicators and provide quick summarized information. They depict the prevailing direction of change and the scope of change.
The Singapore PMI was developed by Professor Philip Poh in 1998 and since then, the PMI has been successfully used in Singapore. The Singapore PMI is now a key barometer of the Singapore economy, and is closely watched by governments, banks, financial institutions and media agencies worldwide.
Shenton Institute of Applied Finance (SIAF) is a subsidiary of Shenton Education Group (SEG), an education service provider incorporated in Myanmar. With 3 schools in Myanmar, Shenton is a holistic education management, policy, leadership and operations solutions provider. Learn more about SIAF at www.siaf.edu.mm
The Singapore institute of Purchasing and Materials Management (SIPMM) is a leading professional body in Singapore established in 1972. SIPMM publishes the Singapore Purchasing Managers’ Index (PMI) on a monthly basis since 1998. The Singapore PMI has become a key barometer of the Singapore manufacturing economy and has been highly sought after by local and international news agencies, banks, investment and stock-broking firms. Learn more about SIPMM at www.sipmm.edu.sg/pmi
For further information, please contact:
SIAF (About Myanmar PMI, Analyses & Methodologies)
|Mr. Amos Rao||Ms. Catherine Tan|
|Group SVP & SIAF GM||International Office|