Steps To Construct Apmi By Using Concepts Of PMI
Recently, the purchasing managers’ index (PMI) has been as a key indicator to measuring the manufacturing activity, even in individual agriculture industry or product. However, agricultural companies and government departments haven’t had information to measure the development of the current industry, except agricultural Gross Domestic Profit (GDP).To solve the problem, we try to search for index who shares the features mentioned above in non-agriculture industry, and thus, we called APMI (Agricultural Purchasing Managers’ Index).By trying to uses ix monthly changes data for five years, we adapted correlation coefficient to determine if the variables are strongly correlated to macro-economic indexes. After selecting the variables, principal components analysis (PCA) will be applied to decide the best weight for each variable in formula APMI. In the feature, we will try to focus on the Pig industry in agriculture for this trial notion, APPMI (Agricultural Pig Purchasing Managers’ Index).