Iran: PMI Concludes 4th Fiscal Month on Optimistic Note

The latest industrial purchasing managers’ index (PMI) survey indicates that economic players are still optimistic about the prospects of domestic production.
The Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture, however, added that the overall PMI is slightly above the neutral level of 50. 
PMI for the fourth month of the current fiscal year (June 22-July 22) stood at 50.07 from 50.66 in the preceding month (May 22-June 21), indicating a 0.59-point or 1.1% decline month-on-month. 
It is 10 months now that the center is measuring PMI in Iran, under the Farsi acronym “Shamekh”. PMI is an indicator of economic health for manufacturing and services sectors. It aims to provide information about current business conditions to company decision-makers, analysts and purchasing managers.
The headline PMI is a number from 0 to 100, such that over 50 represents an expansion when compared with the previous month. A PMI reading under 50 indicates a contraction and a reading of 50 implies no change.