The Syria Purchasing Managers Index (SPMI)
The Syria Purchasing Managers Index (SPMI) is a joint effort between Bank Audi Syria and Saghir Advisory Services Co. The objective of this initiative is to create a simple and timely economic index that can help accurately measure the country’s economic performance on a monthly basis.
The SPMI will be modeled on a special mechanism applied on the most accurate and reliable near-term economic barometers that provide timely, accurate information regarding the manufacturing sector of the economy.
The Index Mechanism:
The SPMI will gather the data by having the questionnaire filled online by a carefully selected survey committee. Members of this committee will be made up of the country’s top business establishments who represent a wide cross section of Syria’s economy. Members who agree to be part of the committee will respond anonymously and confidentially to a monthly questionnaire.
The Objective of the Index:
The Index is designed to elicit fact, not opinion, about monthly changes in production, new orders, employment, supply delivery timeliness, inventories and prices paid in the subscribed companies.
Over time, we believe that the responses of the committee members would mirror the economic activity of national economy ensuring a report that accurately represents current business conditions.
The monthly survey will report the direction companies activities have moved during the current month when compared to the previous month. These reports usually show the percent of companies indicating an activity up, same, or down. Comparing such percentages can show both the direction and magnitude of monthly change. Note: The data do measure change in level and do not measure the actual level of an activity.
In order to ensure that responses to the SPMI will remain strictly anonymous and confidential, members of the committee will be asked to fill in the survey questionnaire online directly no later than the 16th of every month. The responses will be tabulated and the results calculated strictly by Saghir Advisory Services Co.
The index results will be announced by Bank Audi Syria by the first of each month.
Those who agree to become members of the survey committee and respond to the monthly survey will serve the objective of the Index by allocating only 10 minutes of their time every month. Neither Bank Audi nor Saghir Advisory Services Co. gets any monetary benefit from this initiative.