Construction PMI Gets Boost, But Remains Contractionary

New data released by the Iran Chamber of Cooperatives show the Purchasing Managers’ Index for the construction sector is nearing the threshold but remains contractionary.
The PMI settled at 48.98 in the 11th month of the current Iranian year (Jan. 21-Feb. 19), up from 42.3 in the preceding month (Dec. 22, 2022-Jan. 20), which indicates a 15.79% increase.
PMI is an indicator of the health of economic sectors and provides information about business conditions to decision-makers, analysts and purchasing managers. 
Raw material inventory, employment conditions, new orders, supplier deliveries and export/production conditions are among the criteria surveyed, yielding a final score of between 1 and 100.