Iran PMI at Record High

New data released on the Purchasing Managers' Index for Iran’s overall economy show the benchmark has hit a record high.
The latest survey of the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture — the sponsor and coordinator of PMI reports in Iran — show the index (known by its Farsi acronym Shamekh) settled at 56.17 for the second month of the current fiscal year (April 21-May 21) from 37.49 registered in the previous month, indicating an 18.86-point or 49.83% growth.
The PMI 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.