Industrial PMI Plunges Below Threshold to Hit 23-Month Low

New data on the Purchasing Managers’ Index for Iran’s industrial sector show it plunged below the threshold to stand at a 23-month low.
PMI for the current fiscal year’s first month (March 21-April 20), settled at 37.02 from 56.43 in the preceding month (Feb. 20-March 20), indicating a 34.4% drop, according to the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture. 
Locally known by its Farsi acronym Shamekh, PMI is an indicator of the economic health of manufacturing and services sectors. It provides information about current business conditions to companies’ decision-makers, analysts and purchasing managers.