PMI Suggests Positive Expectations in Business Climate

New data released on Purchasing Managers’ Index for Iran’s overall economy show business expectations have turned positive after four consecutive months of downturn in the benchmark index.
The PMI, known by its Farsi acronym Shamekh, for Iran’s overall economy settled at 51.55 in the current Iranian year’s 11th month (Jan. 21-Feb. 19) from 46.94 registered in the previous month, indicating a 4.61-point or 9.82% rise.
The headline PMI is a number from 0 to 100, such that over 50 indicates an economic expansion compared with the previous month. A PMI reading under 50 indicates contraction and a reading of 50 implies no change.