Business surveys, such as the Purchasing Managers’ Indices published by Markit, provide a timely guide to the health of individual economies, but they are not directly comparable across countries. In this Focus, we adjust the PMIs based on their past relationship with GDP growth. While our adjusted indices are no more accurate as a guide to GDP growth for each country, they can more readily be used for cross-country comparisons, and on a timelier basis than official GDP figures.
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