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Iran's Industrial PMI Drops for Second Consecutive Month

The overall PMI for industries decreased from 63.21 in the Iranian month ending May 20 to 56.80 in the month ending June 20 and to 55.25 in the month ending July 21
Industrial PMI Drops for Second Consecutive Month
Industrial PMI Drops for Second Consecutive Month

The Purchasing Managers’ Index for industries during the fourth month of the current fiscal year (June 21-July 21) settled at 55.25 from 56.80 in the preceding month (May 21-June 20), indicating a 2.73% decrease.
The announcement was made by the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture. The center is measuring PMI, known by its Farsi acronym Shamekh, in Iran since past 22 months. 
PMI is an indicator of economic health for manufacturing and services sectors. It provides information about current business conditions to companies’ decision-makers, analysts and purchasing managers. 
The headline PMI is a number from 0 to 100. A PMI above 50 represents an expansion compared with the previous month. A PMI reading under 50 represents a contraction, and a reading at 50 indicates no change. The further away from 50, the greater the level of change. 

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