Industrial PMI Slides Again Below Threshold

The Purchasing Managers’ Index for industries during the fourth month of the current fiscal year (June 22-July 22) settled at 43.19 from 54.21 in the preceding month (May 22-June 21), indicating a 11.02-point or a 20.32% decline.
The announcement was made by the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture. The center has been measuring PMI, known by its Farsi acronym Shamekh, in Iran for the past 34 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. 
The headline PMI is a number from 0 to 100. A PMI above 50 represents an expansion when compared with the previous month. A PMI reading under 50 represents a contraction and a reading at 50 indicates no change. The further away from 50, the greater the level of change.