Monthly Construction PMI Stays in Contraction Mode

The Iran Chamber of Cooperatives’ latest report on Purchasing Managers’ Index for the domestic construction industry reveals a contraction although it registered a slight uptick on a month-on-month basis.
The construction PMI in the current fiscal year’s ninth month (Nov. 22-Dec. 21) settled at 43.98 from 42.8 in the preceding month (Oct. 23-Nov. 21), indicating a 2.76% increase.
PMI is an indicator of the health of economic sectors and provides information about current business conditions to decision-makers, analysts and purchasing managers. 
Raw material inventory, employment conditions, new orders, supplier deliveries and export/production conditions were among the criteria quizzed, yielding a final score of between 1 and 100.