Retail Purchasing Managers’ Index Improves Significantly

Iran’s Retail Purchasing Managers’ Index stood at 51.19 in the month ending Aug. 21 to signal a significant improvement in the retail sector’s activities.
Economy and Planning Division of Iran Chamber of Guilds has measured the PMI for Iran's real-estate and construction sectors, known by the Farsi acronym “Shamekh”, for the fifth month of the current Iranian year (July 22-Aug. 21).
The retail sector’s PMI for the fifth month of the current fiscal year settled at 51.19 from 37.50 in the preceding month (June 21-July 21), indicating a 36.51% improvement month-on-month, Mehr News Agency reported.
A reading above 50 indicates expansion in the sector while below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. A higher than expected reading should be taken as a positive sign for businesspeople while a lower than expected reading should be taken as negative.