Iran Chamber of Commerce has released the country’s new PMI data for the fiscal month of Tir (June 21 - July 21) which is lower than that of the preceding month.
According to the new PMI reading, Iran’s monthly PMI stood at 50.63. The figure is slightly above the threshold (above 50), 2.65 points lower than the earlier month when the figure was reported at 53.28.
Economic experts attribute the decline in monthly PMI to severe lack of liquidity, and the refusal of banks to offer lends to companies for providing raw materials which they say have imposed high pressure on production.
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.
The “business activities” sub-index (50.97), although still above the threshold, has declined from 57.26 reported in the preceding month.
The “new orders” sub-index, which had declined to below the threshold last month, continued to fall in the month under review to as low as 46.38.
The “raw material inventory” sub-index (44.56) has also registered its lowest in the past three months.
The “sales of goods and services” sub-index (44.73) has also declined from 50.65 reported in the preceding month posting a six-month record low.
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INDEX
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Ordibehesht1402
(Apr-May2023)
|
Khordad1402
(May-June2023)
|
Tir1402
(June-July2023)
|
|
PMI
|
57.30
|
53.28
|
50.63
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|
business activities
|
60.96
|
57.26
|
50.97
|
|
new orders
|
57.15
|
49.96
|
46.38
|
|
suppliers’ delivery time
|
57.43
|
58.22
|
55.36
|
|
raw material inventory
|
58.08
|
46.56
|
44.56
|
|
employment
|
52.48
|
52.95
|
56.06
|
|
raw materials price
|
83.67
|
73.22
|
75.61
|
|
finished goods inventory
|
49.30
|
53.42
|
48.83
|
|
exports of goods and services
|
51.86
|
51.37
|
47.12
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price of goods and services
|
62.52
|
58.16
|
53.71
|
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consumption of energy carriers
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61.28
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56.75
|
58.79
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|
sales of goods and services
|
64.09
|
50.65
|
4473
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|
expectations for next month economic activities
|
65.17
|
60.17
|
56.79
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