Iranian PMI Declines for Second Consecutive Month

New data on Purchasing Managers’ Index for Iran’s overall economy show a downtrend in the index.
The PMI, known by its Farsi acronym Shamekh, for Iran’s overall economy settled at 51.07 in the current Iranian year’s eighth month (Oct. 23-Nov. 21) from 54.76 registered in the previous month, indicating a 3.69-point or 6.74% decline.
According to the Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture, the sponsor and coordinator of the report, exorbitant prices, shortage of raw materials and decline in demand were the biggest problems faced by businesses during the period under review.