Iran’s PMI Decreases by 27.5% in 1st Fiscal Month

The overall Purchasing Managers’ Index, known by its Farsi acronym Shamekh, for Iran’s economy settled at 39.65 in the month ending April 20 from 54.73 in the month ending March 20, indicating a 15.08-point or 27.55% decline.
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, says the index hit a 12-month low due to Norouz, the Persian New Year holidays, and the fourth wave of Covid-19 pandemic in Iran. 
The headline PMI is a number from 0 to 100, such that over 50 shows an expansion of the economy when compared with the previous month. A PMI reading under 50 indicates contraction and a reading of 50 implies no change.