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Iran's Industrial PMI Ends Fiscal 2020-21 Above Threshold

Iran's Industrial PMI Ends Fiscal 2020-21 Above Threshold
Iran's Industrial PMI Ends Fiscal 2020-21 Above Threshold

The Purchasing Managers’ Index for industries during the 12th month of last fiscal year (Feb. 19-March 20) settled at 57.29 from 58.34 in the preceding month (Jan. 20-Feb. 18), indicating a 1.05-point or a 1.8% decrease.
The announcement was made by the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture. The center is measuring PMI, known by its Farsi acronym Shamekh, in Iran for the past 30 months. 
PMI is an indicator of economic health for manufacturing and services sectors. It provides information about current business conditions to companies’ decision-makers, analysts and purchasing managers. 
The headline PMI is a number ranging from 0 to 100. A PMI above 50 represents an expansion when compared with the previous month. A PMI reading under 50 represents a contraction and a reading at 50 indicates no change.

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