Housing PMI Maintains Upward Monthly Impetus

The Purchasing Managers’ Index for the housing sector in the third month of the current Iranian year (May 22-June 21) settled at 60.55 from 57.14 in the preceding month (April 21-May 21), indicating a 5.97% increase, Iran Chamber of Cooperatives reported.
PMI is an indicator of the health of economic sectors and 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 quizzed, 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.