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Institute for Supply Management (ISM) is the first and largest not-for-profit professional supply management organization worldwide. Founded in 1915, ISM has over 50,000 members located in 80 countries.
The PMI is a composite index based on the diffusion indexes of five of the indexes with equal weights:a) New Orders (seasonally adjusted) b) Production (seasonally adjusted)c) Employment (seasonally adjusted)d) Supplier Deliveries (seasonally adjusted) ande) Inventories.