Iran Chamber of Commerce has released the country’s new PMI data for the fiscal month of Mehr (September 23 – October 22) which is above the threshold (above 50) for a second month in a row.
According to the new PMI reading, Iran’s monthly PMI stood at 54.15. Although the figure is slightly lower than 54.34 reported last month, it is still above the threshold (above 50) which indicates the Iranian economy continued to thrive in the month under review.
There are however signs that in addition to the shortage of liquidity and bank loans which have been hindering the production sector, some surprise unprofessional decisions taken by the customs administration and the ministry of industry have also caused serious problems for a significant number of companies.
The Statistics and Economic Analysis Center of Iran Chamber of Commerce, Industries, Mines and Agriculture, the sponsor and coordinator of the survey, announces the whole economy PMI data in a report every month.
The headline PMI is a number from 0 to 100, such that over 50 shows an expansion of the economy when compared with the previous month. A PMI reading under 50 indicates contraction and a reading of 50 implies no change.
PMI is an index of the prevailing direction of economic trends, aiming to provide information about business conditions to company directors, analysts and purchasing managers.
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The “raw materials price” sub-index hit 72.25 in the month under review to register its highest in three months.
The “price of goods and services” sub-index have also registered its highest in five months to hit 59.96.
The “employment” sub-index (49.56) was registered under the threshold for a third consecutive month.
The “raw material inventory” sub-index (47.10) has registered its lowest in three months which have been declining in all the three major parts of the economy including agriculture, industry and services.
The “exports of goods and services” (49.00) has been below the threshold for a fourth month in a row although it has slightly improved from the figure reported last month.
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INDEX
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Mordad1402 (July-Aug2023)
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Shahrivar1402 (Aug-Sep2023)
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Mehr1402 (Sep-Oct2023)
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PMI
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49.97
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54.34
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54.15
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business activities
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54.60
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58.56
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58.60
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new orders
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44.84
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55.02
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53.38
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suppliers’ delivery time
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54.67
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56.40
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59.10
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raw material inventory
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47.88
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50.97
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47.10
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employment
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49.41
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48.20
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49.56
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raw materials price
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70.27
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68.86
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72.25
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finished goods inventory
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51.01
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53.18
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54.09
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exports of goods and services
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48.89
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48.77
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49.00
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price of goods and services
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54.08
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53.50
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59.96
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consumption of energy carriers
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50.84
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41.37
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58.25
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sales of goods and services
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49.13
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49.93
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53.47
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expectations for next month economic activities
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63.35
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70.50
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65.78
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