Business Activities Rebound

The Purchasing Managers’ Index, known by its Farsi acronym Shamekh, for Iran’s overall economy rebounded in the second month of the current fiscal year (April 20-May 20), thanks to a jump in output as companies resumed production after the coronavirus lockdowns and the new Iranian year’s holidays, the Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture reported.
The overall PMI fell from 31.39 in the month ending March 19 to 28.68 in the month leading to April 19 but improved to 50.17 in the month ending May 20, showing the economy’s recovery from the pandemic is gathering pace. 
The headline PMI is a number from 0 to 100, such that over 50 shows an expansion of the economy when compared with the previous month. A PMI reading under 50 indicates contraction and a reading of 50 implies no change.