Monthly Construction PMI Plunges Below Threshold

The Purchasing Managers’ Index for the construction sector settled at 33.95 in the first month of the current Iranian year (March 21-April 20), down from 55.43 in the 12th month of the last fiscal year (Feb. 20-March 20), registering a 38.75% decrease, the latest data released by the Iran Chamber of Cooperatives show.
The first month of every Iranian year is marked with a slowdown in activities across all economic sectors, including construction, due to the long Iranian New Year holidays (starting March 21) that last for more than two weeks. 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.