PMI Weights
Does anyone know what the weights are for the five components in PMI? Both Markit and ISM?
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This is from one of Markit PMI press releases: "The Purchasing Managers’ Index™ (PMI™) is a composite index based on five of the individual indexes with the following weights: New Orders – 0.3, Output – 0.25, Employment – 0.2, Suppliers’ Delivery Times – 0.15, Stocks of Items Purchased – 0.1, with the Delivery Times Index inverted so that it moves in a comparable direction."
For the ISM PMI, you could refer to this release: http://www.ism.ws/about/MediaRoom/newsreleasedetail.cfm?ItemNumber=17500
This may not be 100% up to date, so you should check w/Markit and ISM yourself. I have also not verified whether these weights actually work to recover the index from the components.
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