Iran’s Chamber of Commerce has released the country’s new PMI data for the fiscal month of Aban (October 23 – November 22) which is below the threshold again after it registered two climbing months.
According to the new PMI reading, Iran’s monthly PMI dropped 2.8 points from that of last month to settle at 47.39.
It is also indicative of a recession and reducing business activities.
Except for suppliers’ delivery time and raw material inventory, all the other main sub-indexes were registered below the threshold (below 50).
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 “business activities” sub-index (46.24) dropped to a 15-month low, excluding the calendar month of Farvardin, in this month. The reduction in the business activities was reported to be as a result of a recession in construction, services and agricultural sectors.
“New orders” was another sub-index which registered a fall in this month to settle at 43.91. This sub-index has reduced in all the main three sectors of economy but the sharpest declines have been reported in services and agriculture sectors.
The PMI reading for “exports of goods and services” sub-index (45.69) has also registered a decline for the fifth month in a row. It has been falling more sharply this month in comparison to the preceding month.
The “sales of goods and services” sub-index (48.21) also dropped for a second consecutive month but it fell with a lower slope this month.
The “employment” sub-index registered an eight-month low of 48.88 which was mostly seen in constructional, services, and agricultural sectors.
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INDEX
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Shahrivar1401
(Aug-Sep2022)
|
Mehr1401
(Sep-Oct2022)
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Aban1401
(Oct-Nov2022)
|
|
PMI
|
52.08
|
51.19
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47.39
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|
business activities
|
52.34
|
51.60
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46.24
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|
new orders
|
52.87
|
46.82
|
43.91
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|
suppliers’ delivery time
|
54.05
|
54.78
|
51.73
|
|
raw material inventory
|
45.22
|
46.28
|
51.26
|
|
employment
|
52.53
|
52.00
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48.88
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|
raw materials price
|
69.40
|
71.80
|
78.49
|
|
finished goods inventory
|
51.09
|
52.99
|
48.86
|
|
exports of goods and services
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45.24
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47.05
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45.69
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price of goods and services
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54.57
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57.45
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55.47
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consumption of energy carriers
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45.32
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46.11
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49.80
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sales of goods and services
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52.83
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42.56
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48.21
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expectations for next month economic activities
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52.47
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59.59
|
52.62
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