Iran housing PMI improves 8.5%

Financial  Tribune – Iran Chamber of Cooperatives has measured the purchasing managers’ index (PMI) for the country’s real-estate and construction sectors, known by the Farsi acronym Shamekh, for the 10th month of the current Iranian year (ended Jan. 20).

The new report shows PMI increased to 42.93 in the 10th Iranian month (Dec. 22, 2019-Jan. 20) from 39.56 in the ninth Iranian month (Nov. 22-Dec. 21, 2019), indicating an 8.52% 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.