Monthly Industrial PMI Declines

The Purchasing Managers’ Index for Iranian industries in the current fiscal year’s ninth month (Nov. 22-Dec. 21) settled at 56.53 from 57.11 in the preceding month (Oct. 23-Nov. 21), indicating a 1.02% decrease, the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture reported. 
According to the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture, the sponsor and coordinator of the report, on the one hand, following the turmoil in the foreign currency market and other production costs, it is no longer possible to predict and plan ahead. On the other hand, many companies are facing problems with downstream industries such as petrochemicals in procuring raw materials, while car producers are failing to repay their debts and obligations. 
Locally known by its Farsi acronym Shamekh, 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.