Iran Overall Economy’s PMI Plummets to 23-Month Low

The Purchasing Managers’ Index for Iran’s overall economy stood at a 23-month low in the last fiscal month (March 21-April 20).
The PMI, known by its Farsi acronym Shamekh, settled at 37.49 for the month under review from 54.74 registered in the previous month, indicating a 17.25-point or 37.07% decline.
The Purchasing Managers' Index indicates the prevailing direction of economic trends in the manufacturing and service sectors. The headline PMI is a number from 0 to 100, such that over 50 indicates an economic expansion compared with the previous month. A PMI reading under 50 indicates contraction and a reading of 50 implies no change. 
PMI is an index of the prevailing direction of economic trends, aiming to provide information about business conditions to company directors, analysts and purchasing managers.