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Iran Housing PMI Growth Prolongs for Second Consecutive Month

Iranians are turning to the housing market to protect their savings in the face of rising inflation. No one sees housing as a short-term consumer commodity
Iran Housing PMI Growth Prolongs for Second Consecutive Month Iran Housing PMI Growth Prolongs for Second Consecutive Month

The Purchasing Managers' Index of the hosing sector for the third month of the current fiscal year (May 21-June 20) settled at 64.36 from 60.55 in the preceding month (April 20-May 20), showing continued recovery in this sector. 
Iran Chamber of Cooperatives has measured the purchasing managers’ index for the country’s real-estate and construction sectors, under the Farsi acronym “Shamekh”, in the third month of the current Iranian year (ending June 20).
The new report shows overall PMI settled at 64.36 from 60.55 in the second Iranian month, indicating a 6.29% growth month-on-month, the Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture announced. 
Notably, PMI stood at 18.75 in the first month of the current Iranian year March 19-April 19)—the lowest since PMI reports began in the fiscal month, Sept. 23-Oct. 22, 2019.

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