The Purchasing Managers' Index for local industries settled at 35.63 in the current Iranian year’s first month (March 21-April 20), up from 59.51 in the preceding month (Feb. 20-March 20), the latest data released by the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture show.
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.
May 13, 2023 20:01
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Industrial PMI Nosedives in First Month of FY 2023-24
In view of the instability in foreign exchange market and the Central Bank of Iran’s failure to supply forex to companies for purchasing raw materials, most manufacturers were inclined to halt production in the month ending April 20
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