Retail PMI on Growth Trajectory

The Purchasing Managers’ Index for Iran’s retail sector stood at 54 in the month leading to Jan. 19, which marks the end of the 10th month of the current Iranian year, to signal a 19.68% rise compared with the previous month’s reading of 45.12.
The announcement was made by the Economy and Planning Department of Iran Chamber of Guilds. The department has been measuring retail PMI, known by its Farsi acronym Shamekh, since the month ending May 20, 2020. 
A reading above 50 indicates expansion in the sector; 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 marks a negative performance.