ISLAMABAD: HBL, in collaboration with S&P Global, announced the launch of the HBL S&P Global PMI® (Purchasing Managers’ Index™) series for Pakistan.
This landmark initiative aims to provide valuable data and timely insights into the overall economic health of Pakistan’s manufacturing sector, marking a significant advancement in economic analysis for the country.
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.
This 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 elaborated on the significance of the PMI as a key economic instrument.
Luke Thompson, Managing Director – S&P Global Market Intelligence, remarked, “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 – HBL, stated, “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 the overall economic growth of Pakistan. The index will be compiled from responses to questionnaires sent to a diverse panel of industries, ensuring a comprehensive representation of the economy.
The HBL S&P Global PMI will be released on the first working day of each month, offering stakeholders a reliable and consistent measure of economic performance.
This initiative aims to enhance transparency and provide critical insights into the economic conditions shaping Pakistan’s future, ultimately supporting informed decision-making and strategic planning across various sectors.
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