Iran PMI Sinks Below Threshold

The overall Purchasing Managers’ Index, known by its Farsi acronym Shamekh, for Iran’s economy settled at 44.62 in the month ending July 22 from 51.27 in the month ending June 21, indicating a 6.65-point or 13% decline.
A new report by the Statistics and Economic Analysis Center of the Iran Chamber of Commerce, Industries, Mines and Agriculture, the sponsor and coordinator of the survey, says the resurgence of Covid-19, mandatory shutdowns, widespread power outages and low demand caused a sharp decline in PMI during the month under review. 
The headline PMI is a number from 0 to 100, such that over 50 shows economic expansion compared with the previous month. A PMI reading under 50 indicates contraction and a reading of 50 implies no change.