Iran’s PMI Decreases for Second Consecutive Month

The Purchasing Managers' Index for Iran’s economy has declined for a second consecutive month.
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 — shows the index (known by its Farsi acronym Shamekh) settled at 50.1 in the fourth month of the current Iranian year (June 22-July 22) from 54.73 registered in the previous month, indicating a 4.63-point or 8.46% decline.
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. 
It is an index of the prevailing direction of a country’s economic trends, aiming to provide information about business conditions to company directors, analysts and purchasing managers.