Consider the following statements:

  1. Purchasing Managers’ Index (PMI) covers the broader industrial sector compared to the Index of Industrial Production (IIP).
  2. Purchasing Managers’ Index (PMI) is more dynamic compared to a standard Index of Industrial Production (IIP).
  3. PMI and IIP are the same.

Which of the statements given above is/are correct?

1
1 only
2
2 only
3
Both 1 and 2
4
Neither 1 nor 2
5
Only 3

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