The Purchasing Managers’ Index or PMI was originally developed by the Institute for Supply Management North America in 1931. There are currently 26 countries worldwide where executives benefit from the on-time delivery of PMI results. The Philippines is the 26th PMI country in the world and only the 6th country in Asia to conduct the PMI.
The initial PMI survey covered only the manufacturing sector; the rationale being that the industry influences the conditions in the economy. However, the growing contribution of the construction and services to total output in a country made it necessary to cover for these sectors as well.
In July 2008, the first Philippine Purchasing Managers’ Index was jointly released. This was preceded by extensive research and development activities that provided the basis for the PMI Philippines survey. This project is now handle by the Philippine Institute of Supply Management (PISM), Society of Fellows in Supply Management (SOFSM) and The Asian Centre for Enterprise Development, Inc (ASCEND Inc.).
