Retail PMI Gets Monthly Boost

Iran’s Retail Purchasing Managers Index stood at 35.71 in the month ending Nov. 20 to register a 6% improvement compared with the previous month’s reading of 33.69, according to the Economy and Planning Department of Iran Chamber of Guilds’ latest report. 
The department has been measuring retail PMI, known by its Farsi acronym Shamekh, since the Iranian month ending May 20. 
A reading of 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 its 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.