Industrial PMI Drops by 9.5%

The Purchasing Managers' Index for the industrial sector of Iran has dropped for the second consecutive month, the latest data released by the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture show.
In the current fiscal year’s fourth month (June 22-July 22), the PMI for industrial sector settled at 53.93 from 59.65 in the preceding month (May 22-June 21), indicating a 9.59% fall. 
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. 
The headline PMI is a number from 0 to 100. A PMI above 50 represents an expansion, under 50 indicates a contraction and a reading of 50 shows no change compared with the previous month. The further away from 50, the greater the level of change.