Business And Markets

Housing PMI Down 4.5% to 50.54

Home sales in Tehran declined by 6.8% month-on-month but rose 203.7% year-on-year as prices grew 5.1% MOM and 91.7% YOY
Housing PMI Down 4.5% to 50.54Housing PMI Down 4.5% to 50.54

Purchasing Managers' Index for the sixth month of the current fiscal year (Aug. 22-Sept. 21) settled at 50.54 from 52.94 in the preceding month (July 22-Aug. 21). 
Iran Chamber of Cooperatives has measured the purchasing managers’ index (PMI) for the country’s real-estate and construction sector, under the Farsi acronym “Shamekh”, for the sixth month of the current Iranian year.
The new data show the overall PMI settled at 50.54 in the sixth Iranian month from 52.94 in the fifth fiscal month, indicating a 4.53% decline.  
PMI is an indicator of the health of economic sectors. It provides information about current business conditions to decision-makers, analysts and purchasing managers. 


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