Industrial PMI Plummets 35%

The Purchasing Managers’ Index for industries during the first month of the current fiscal year (March 21-April 20) settled at 37.28 from 57.29 in the preceding month (Feb. 19-March 20), indicating a 20.01-point or a 34.93% decrease.
The drop in the index reflects the seasonal slump caused by the new Iranian year holidays starting March 21 for a fortnight.
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 31 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.