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As part of plans to add value to the lives of its customers and stakeholders, Stanbic Bank has launched the world’s leading economic indicator, the Purchasing Managers’ Index (PMI) to provide key stakeholders with reliable, relevant and timely information to help them make informed financial decisions.

According to the Chief Executive of Stanbic Bank Ghana, Mr. Alhassan Andani, the PMI is the only comprehensive source of sector economic data and because the surveys are based on facts, they produce highly reliable economic indicators.

In addition to providing national macroeconomic indicators, PMI data are also available for detailed sectors of the economy, allowing specific industry trends to be monitored on a global (and regional) basis.

In an interview with Peace News, Communications Manager for Stanbic Bank, Kojo Larbi explained that the PMI is based on monthly surveys of carefully selected companies representing major and developing economies worldwide.

The index provides an advance signal of what is really happening in private sector economies by tracking variables such as output, new orders, employment and prices.

He added that the PMI will provide insight into economic conditions across the manufacturing and service sectors, with national PMI readings for the respective sectors based on responses from panels of senior purchasing executives at more than 400 companies for each survey.

He added that the bank is hopeful such an important document will be of interest to people who are involved with economic data.