Iran's Industrial PMI Improves

The Purchasing Managers' Index for the eighth month of the current fiscal year (Oct. 23-Nov. 21) settled at 51.13 from 50.97 in the preceding month (Sept. 23-Oct. 22), indicating a 0.7-point or 1.38% increase month-on-month, the Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture has announced. 
The center is measuring PMI, known by its Farsi acronym “Shamekh”, in Iran for the past 14 months. 
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 contraction and a reading of 50 implies no change. 
PMI is based on a monthly survey sent to senior executives of more than 400 companies. It is based on five major survey areas: new orders (30%), raw material inventory level (10%), production (25%), supplier deliveries (15%) and employment (20%).