Domestic Economy
0

Iran's PMI Declines Below 50

The disappointing purchasing managers’ index (PMI) of the last fiscal month (July 23-Aug. 22) signals an increased risk of slowdown in Iran’s economy
Iran's PMI Declines Below 50Iran's PMI Declines Below 50

PMI for the fifth month of the current fiscal year (July 23-Aug. 22) settled at 45.79 from 50.07 in the preceding month (June 22-July 22), indicating a 4.28-point or 8.54% decline month-on-month. 
The disappointing purchasing managers’ index (PMI) of the fifth fiscal month signals an increased risk of slowdown in Iran’s economy.   
The Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture that publishes the local version of PMI also notes that summer factory closures in some industries have also contributed to the decline in the index last month.  
It is 11 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. 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com