S&P Global (SPGI) and Pakistani bank HBL on Friday launched the HBL Pakistan Manufacturing Purchasing Managers' Index, a new index intended to serve as an indicator of the country's manufacturing sector performance.

The companies said the index will be based on a survey of about 300 manufacturers, covering data such as new orders, output, employment, and stocks, among others.

According to the companies' joint statement, the PMI stood at 55.4 in January down from 55.6 in December, indicating a "slightly softer" improvement in the health of the country's manufacturing sector.

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