HBL and S&P Global Launch the Pakistan Manufacturing Purchasing Managers’ Index (PMI) to Enhance Economic Insights

In a groundbreaking initiative, HBL, in collaboration with S&P Global, has launched the HBL S&P Global PMI® (Purchasing Managers’ Index™) series for Pakistan. This marks a significant milestone in Pakistan’s economic analysis, offering a standardized and internationally recognized economic indicator tailored to the country’s manufacturing sector. In a move set to provide deeper insights into Pakistan’s economic trajectory, HBL, in partnership with S&P Global, has introduced the HBL S&P Global Purchasing Managers’ Index (PMI) for Pakistan. This monthly index, a first for the country, is designed to offer timely information about the manufacturing sector’s performance and economic trends. It aims to support businesses, financial institutions, and policymakers in making well-informed decisions. The HBL S&P Global PMI will be released monthly, providing critical data to financial institutions, policymakers, and businesses. This tool is designed to facilitate informed decision-making and strategic planning across various sectors, thereby fostering economic stability and growth. Luke Thompson, Managing Director at S&P Global Market Intelligence, elaborated on the significance of the PMI. He explained that the PMI is one of the most closely watched economic indicators globally, offering timely and accurate insights into economic conditions. “When we first started these surveys over 30 years ago, we targeted purchasing managers in manufacturing companies because they were best placed to answer a broad range of economic questions,” Thompson said. “Our goal was to provide high-frequency, timely data that wouldn’t need revisions, unlike some official government statistics such as GDP.” Today, PMI surveys cover more than 40 countries and engage a global network of around 28,000 companies. The data collected provides early signals about economic trends and is widely used by central banks, governments, and investors worldwide. The PMI is known for its reliability, speed, and representative methodology, ensuring that it accurately reflects market conditions. The launch event also highlighted the importance of the inaugural HBL S&P Global PMI release. Humaira Qamar from HBL shared key insights from the January 2025 report, noting that the headline PMI reading came in at 55.4, the highest six-month average recorded with well above the previous 6M average. This indicates a positive shift in Pakistan’s manufacturing activity and economic outlook. “We are seeing a continuous uptick in the output index,” said Qamar. “Manufacturers in Pakistan expect output activity to continue increasing over the next 12 months, which is reflected in the future output index.” Additional forward-looking indicators such as new orders and export orders also showed consistent increases. Qamar pointed out that the employment index has reached the 50 mark, indicating an increase in employment levels. Furthermore, manufacturers have increased production and stockpiled inventory in response to growing demand, which signifies a positive trend for economic recovery. HBL’s President & CEO, Muhammad Nassir Salim, emphasized the strategic importance of the PMI for Pakistan’s economy. “We are pleased to launch the PMI for Pakistan, which will enhance investor confidence and transparency,” he stated. “This index will not only provide valuable insights for businesses but also serve as a crucial resource for policymakers and investors.” CEO Nasser Salim highlighted how the PMI could aid in attracting foreign investment. “Foreign investors rely on globally recognized indices to assess economic conditions. This PMI gives them a tangible, data-driven measure to evaluate Pakistan’s economic landscape,” he explained. He also noted that key sectors such as digital economy, agribusiness, and SMEs stand to benefit significantly from this initiative. With the introduction of the HBL S&P Global PMI, Pakistan joins a global community where economic trends can be assessed using standardized methodologies. The PMI will be released on the first working day of each month, providing real-time insights into economic shifts and trends. This initiative not only bolsters economic transparency but also positions Pakistan as a data-driven market, capable of competing on an international scale. As policymakers, businesses, and investors increasingly rely on this index, the PMI is set to play a crucial role in shaping Pakistan’s economic trajectory. HBL and S&P Global’s collaboration on this project reflects a commitment to advancing economic research and transparency, ensuring that Pakistan’s manufacturing sector remains well-equipped to navigate the future with clarity and confidence.