The Purchasing Managers' Index for the industrial sector of Iran has dropped for the third consecutive month and broken below the threshold mark (50), latest data released by the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture show.
In the current fiscal year’s fifth month (July 23-Aug. 22), PMI for the industrial sector settled at 48.45 from 53.93 in the preceding month (June 22-July 22), indicating a 10.16% fall.
Locally known by its Farsi acronym Shamekh, PMI is an indicator of the economic health of manufacturing and services sectors. It provides information about current business conditions to companies’ decision-makers, analysts and purchasing managers.