The Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture is planning to publish reports on Iran’s purchasing managers’ index in cooperation with commerce chambers across the country and Iran Chamber of Cooperative.
“More than 5,000 economic players of industrial, mining, agricultural, construction and services sectors have been invited to take part in the initial stage of the survey, which started on Oct. 22 and last for a week,” Mohammad Reza Doust-Mohammadi, the head of the statistics center, told Otaghiranonline.ir.
The purpose of the PMI is to provide information about current business conditions to company decision-makers, analysts and purchasing managers. The statistics center of ICCIMA is measuring PMI for Iran’s industrial sector under the Farsi acronym “Shamekh” since past one year.
The Purchasing Managers' Index for the sixth month of the current fiscal year (Aug. 23-Sept. 22) settled at 50.43 from 45.79 in the preceding month (July 23-Aug. 22), indicating a 4.64-point or 10.13% increase month-on-month, the Statistics and Economic Analysis Center's latest report said.
The PMI for industries fell from 50.07 in the month ending July 22 to 45.79 in the month ending Aug. 22, but increased to 50.43 last month.
The headline PMI is a number from 0 to 100, such that over 50 represents an expansion when compared with the previous month. A PMI reading under 50 indicates contraction and a reading of 50 implies no change.
PMI is based on five major survey areas: new orders (30%), raw material inventory levels (10%), production (25%), supplier deliveries (15%) and employment (20%).
The surveys include 12 questions about business conditions and any changes, whether it is improving, no changes or deteriorating.
“Vehicle and auto parts manufacturing” industry posted the highest PMI with a reading of 57.5 during the month under review while industries categorized under “other sectors” registered the lowest PMI reading with 36.8.
“Iran Chamber of Cooperative will soon start publishing monthly PMI reports on Iran’s real-estate sector,” Ali Moti-Jahani, an official with ICC, was recently quoted as saying by IRNA.
The first of this report will provide information about current conditions in the housing sector for the Iranian month ending Oct. 22, he added.
