Major boost 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 11th month of the current Iranian year ending Feb. 19.

The new report shows PMI increased to 51.76 in the 11th Iranian month (Jan. 21-Feb. 19) from 42.93 in the 10th Iranian month (Dec. 22, 2019-Jan. 20), indicating a 20.6% 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.

Raw material inventory levels, employment conditions, new orders, supplier deliveries and export/production conditions were among the criteria quizzed, yielding a final score of between 1 and 100.