Iran PMI Rallies Above Threshold

The Purchasing Managers' Index for Iran’s overall economy has bounced back above the 50-mark.
The latest survey of businesses by 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 52.08 in the sixth month of the current Iranian year (Aug. 23-Sept. 22) from 48.06 registered in the previous month, indicating a 4.02-point or 8.36% increase.
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.