The Purchasing Managers Index (PMI)

The Purchasing Managers Index (PMI): comprises five economic indicators. They include new orders, inventory levels, production, supplier deliveries and employment. It’s a good indicator of the economic health of the manufacturing sector. A PMI of more than 50 represents expansion of the manufacturing sector, compared to the previous month, and under 50 represents a contraction, while a reading at 50 indicates no change.

Source: Investopedia