Housing PMI at 16-Month Low

A new report by Iran Chamber of Cooperatives shows the Purchasing Managers’ Index for Iran’s housing sector has dropped to a 16-month low.
The Purchasing Managers’ Index for the housing sector in the fourth month of the current Iranian year (July 23-Aug. 22) settled at 38.57 from 54.87 of the preceding month (June 22-July 22), indicating a 29.7% monthly decrease.
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 quizzed, yielding a final score of between 1 and 100.