The Monetary and Banking Research Institute (MBRI) says the output of listed manufacturing companies has increased.
In a recent report it reflected on the monthly performance of 280 companies in the Tehran Stock Exchange and Iran Fara Bourse, the junior equities exchange.
Overall industrial production index (IPI) in the seventh calendar month to Oct 22 was up 7.7% compared to the corresponding month last year, it noted.
The companies account for almost half the industrial production in Iran and their performance is seen as a manufacturing benchmark, the MBRI said on its website.
Juxtaposing monthly data show that the decline seen up until April reversed starting in the third calendar month to June 21.
A glance at sectoral indices shows that the IPI jumped in auto, metal products and textile sectors while food production and chemical industries declined.
Annual IPI for the auto and spare part industries grew 24.4% Y/Y in the month to Oct. 22. It was up 22.4% in the previous month.
Likewise, metal products grew 23.9% during the month under review compared to the same time last year. In the previous month the sector grew 5.1%. The textile industries index registered a 21.4% growth during the month up from the 13.9% rise a month earlier.
The machinery and equipment index improved in the month by 16.4% -- up from 15% a month before.
Moreover, basic metals IPI index saw a 10.8% annual increase. It climbed 9.3% in the previous month.
Electronic industries shot up 8.5% on the corresponding period last year. This key sector had declined 1.1% in the month before.
Non-metallic minerals, oil derivatives, tire and plastic, and pharmaceuticals also showed increase in production in the month to Oct 22.
However, the food industry output declined by a massive 9.7% in the month after falling 5.8% in the preceding month.
Chemical industry output fell 1.7% in the reviewed month after logging 2.4% the month before.
Inventories Down 4.1%
The MBRI reported decline in the inventories of industries in the calendar month to Oct 22 implying that demand for goods was high.
Overall inventory index dropped 3.7% to the month and was down 2.7% in the three months ending Oct 22. It was down 1.5% on an annualized basis.
The report also spoke of profitability of the listed industries. Not all listed companies were homogenous.
As expected, the auto and spare part companies were disappointing and topped the worst performers.
Of the 466 companies under review, 49 were loss-making in the first six months of the current fiscal year (March 21-Sept. 21). However, the number was an improvement on the same period last year.
