Of the five subindexes that make up the PMI ® , four grew faster compared to the previous month; the exception was the Inventories Index, which was down just 0.2 percentage point. Of the five subindexes that make up the PMI , four grew faster compared to the previous month; the exception was the Inventories Index, which was down just 0.2 percentage point. A 'too low' status for the Customers' Inventories Index is usually considered positive for future production. A 'too low' status for the Customers' Inventories Index is usually considered positive for future production. Customers' Inventories remained very low (40.7), which is typically bullish because customers eventually need to replenish inventories.