Iranian PMI Scales New Height

The overall Purchasing Managers’ Index, known by its Farsi acronym Shamekh, for Iran’s economy settled at 54.73 in the month ending March 20, 2021, from 53.73 in the month ending Feb. 18, indicating an improvement of 1.86%.
A report by the Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture, the sponsor and coordinator of the survey, shows the index hit 18-month high (since the beginning of PMI reporting by the center) for the month under review. 
The headline PMI is a number from 0 to 100, such that over 50 shows an expansion of the economy compared with the previous month. A PMI reading under 50 indicates contraction and a reading of 50 implies no change. 
PMI is an index of the prevailing direction of economic trends, which provides information about business conditions to company directors, analysts and purchasing managers.