Domestic Economy

Irans Housing PMI Bounces Back Above Threshold

The drastic housing PMI decline in the first month of the year reflected a seasonal slump in the real-estate market at the beginning of the Iranian New Year, which is followed by a fortnight-long holiday and closure of businesses every year
Irans Housing PMI Bounces Back Above Threshold
Irans Housing PMI Bounces Back Above Threshold

The Purchasing Managers’ Index for the housing sector in the second month of the current Iranian year (April 21-May 21) settled at 57.14 from 40.5 of the preceding month (March 21-April 20), indicating a 41.09% increase, Iran’s Chamber of Cooperatives reported.
PMI is an indicator of the health of economic sectors. It provides information about current business conditions to decision-makers, analysts and purchasing managers. 
“Raw material inventory”, “employment conditions”, “new orders”, “supplier deliveries” and “export/production conditions” were among the criteria surveyed, yielding a final score of between 1 and 100. 
If a business scores 50, it means that no change has been perceived compared to the previous month, while scores higher or lower than 50 indicate that the business is booming or stagnating respectively. 


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