New data released by the Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture show the Purchasing Managers' Index for local industries has rallied for the second consecutive month.
The index settled at 59.51 in last Iranian year’s 12th month (Feb. 20-March 20), up from 57.39 in the preceding month (Jan. 21-Feb. 19).
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.
The headline PMI is a number from 0 to 100. A PMI above 50 represents an expansion, under 50 indicates a contraction and a reading of 50 shows no change compared with the previous month. The further away from 50, the greater the level of change.