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Retail Sector's PMI Plummets

Retail Sector's PMI PlummetsRetail Sector's PMI Plummets

The Economy and Planning Division of Iran Chamber of Guilds' latest report on Purchasing Managers’ Index for the retail sector shows a significant decline in the economic indicator.
According to the report, PMI for the retail sector in the sixth month of the current fiscal year (Aug. 22-Sept. 21) settled at 38.78 from 51.19 in the preceding month, indicating a 24.24% decline compared to the previous month, IRNA reported. 
A reading above 50 indicates expansion in the sector and 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. 

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