Slight recovery in Iran’s housing PMI

Financial Tribune – Iran Chamber of Cooperatives has measured the purchasing managers’ index (PMI) for the country’s real-estate and construction sectors, under the Farsi acronym “Shamekh”, for the ninth month of the current Iranian year ending Dec. 21.

The new report says housing PMI in the month increased to 39.56 in the ninth Iranian month (Nov. 22-Dec. 21) from 38.5 in the eighth Iranian month (Oct. 23-Nov. 21), indicating a 2.75% improvement.

The index stood at 44.30 in the seventh Iranian month (Sept. 23-Oct. 22) when the first PMI report for the housing sector was published by ICC.

PMI is an indicator of the health of economic sectors. It provides information about current business conditions to decision makers, analysts and purchasing managers.