Monthly PMI for Overall Economy Drops by 4.7%

The overall Purchasing Managers’ Index, known by its Farsi acronym Shamekh, for Iran’s overall economy dropped in the third month of the current Iranian year (May 22-June 21) after emerging in the second month from a steep decline of the first fiscal month (started March 21).   
The overall PMI for Iran’s economy settled at 51.27 in the month ending June 21 from 53.84 in the month ending May 21, indicating a 2.57-point or 4.7% 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 reading of the index suggests that the economy is still in expansion mode. However, economic players are concerned about power outages and shortage of raw materials. Indicates economic expansion when compared with the previous month. A PMI reading under 50 indicates contraction and a reading of 50 implies no change.