In May 2025, New York (the United States of America, USA)-based JP Morgan released its latest Purchasing Managers’ Index (PMI) report for April 2025. As per the report, India has topped among the developed and emerging economies in terms of both manufacturing and services activity.
- The report revealed India’s manufacturing PMI stood at 58.2 while its services PMI stood at 58.7. These figures are highest compared to both developed and emerging markets.
- The Global Manufacturing PMI, a composite index sponsored by J.P. Morgan and compiled by S&P Global Market Intelligence, has decreased from 50.3 (in March, 2025) to 49.8 (April, 2025).
About J.P.Morgan Global Manufacturing PMI:
The J.P.Morgan Global Manufacturing PMI is a composite index produced by J.P.Morgan in collaboration with S&P Global Market Intelligence, the Institute for Supply Management (ISM), and the International Federation of Purchasing and Supply Management (IFPSM).
- This index is derived from monthly surveys of purchasing executives across over 30 countries, collectively representing a significant portion of global manufacturing output.
PMI of Other Large Economies:
i.China lagged behind India in both manufacturing and services sectors as the manufacturing PMI of China, monitored by both Markit and the National Bureau of Statistics (NBS), stood at 50.4 and 49 respectively in April 2025.
- While, China’s services PMI, monitored by both Markit and the National Bureau of Statistics (NBS), stood at 50.7 and 50.1 respectively in April 2025.
- Though these are healthy figures but are far behind India’s 58.7, reflecting India’s services sector is growing at a much faster rate in April 2025.
ii.The USA registered a manufacturing PMI of 48.7 monitored by Institute for Supply Management (ISM), while its services PMI stood at 51.6, just marginally above the threshold of 50, indicating sluggish growth in services and a possible contraction in manufacturing.
iii.The manufacturing PMI of Eurozone in April shrunk at 49 and services PMI at 50.1.
iv.The United Kingdom (UK) registered a contraction in both sectors, with manufacturing PMI at 45.4 and services at 49.
- Similarly, France also reported contraction with manufacturing PMI at 48.7 and services at 49.
About Purchasing Managers’ Index (PMI):
i.It is an important economic indicator which indicates the health of manufacturing and services sectors.
ii.PMI score above 50 indicates expansion, while, PMI below 50 indicates contraction in economic activity.
- PMI score of 50 indicates no change in the manufacturing and services sector.
About J.P. Morgan Chase & Co.:
Chairman and Chief Executive Officer (CEO)- Jamie Dimon
Headquarters- New York (the United States of America, USA)
