Industrial PMI Registers Rise for 2nd Month in Row

The Purchasing Managers’ Index for Iran’s industrial sector rose for the second month in a row in the last fiscal year’s 12th month (Feb. 20-March 20, 2022), new data released by the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture show. 
The PMI for the month under review settled at 56.43 from 51.5 in the preceding month (Jan. 21-Feb. 19), indicating a 9.57% rise. 
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. 
The headline PMI is a number from 0 to 100. A PMI above 50 represents an expansion compared with the previous month. A PMI reading under 50 represents a contraction and a reading of 50 indicates no change. The further away from 50, the greater the level of change.