Iran’s new PMI data for the fiscal month of Khordad (May 21 – June 20, 2024), released by the country’s Chamber of Commerce, has declined to a 44-month low.
The new PMI was reported at 45.1, indicating a major decrease in economic activities compared to data from last month.
The seasonally adjusted PMI was also reported at 44.9 which posted a 44-month low.
Many indicators contributed to the significant fall of the PMI this month, including power outages, problems in the supply of raw materials and uncertainty about the results of the country’s presidential elections.
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 was reported at 40.7 after seasonal adjustment, marking the lowest in the 57-month survey.
The “new orders” sub-index declined sharply to 42.1 after seasonal adjustment and registered its lowest in 35 months.
The reading of the “raw material inventory” sub-index was also seasonally adjusted to settle at 45.6, its lowest in 16 months.
The seasonally adjusted reading of the “exports of goods and services” sub-index also declined for a second month in a row to post its lowest in 37 months.
The “sales of goods and services” sub-index also saw a 20-month low to settle at 43.7 in the month under review.
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INDEX
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Ordibehesht1403 (Apr-May2024)
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Ordibehesht1403 (Apr-May2024) (seasonally adjusted)
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Khordad1403 (May-June2024)
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Khordad1403 (May-June2024) (seasonally adjusted)
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PMI
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55.9
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50.7
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45.1
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44.9
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business activities
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57.7
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50.4
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41.3
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40.7
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new orders
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53.4
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46.8
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42.9
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42.1
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suppliers’ delivery time
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61.5
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57.6
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50.1
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49.5
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raw material inventory
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51.1
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47.5
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43.5
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45.6
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employment
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55.6
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53.1
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50.3
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50.5
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raw materials price
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71.2
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65.4
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64.3
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65.3
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finished goods inventory
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52.2
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52.6
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47.8
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46.2
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exports of goods and services
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51.2
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49.4
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41.8
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43.2
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price of goods and services
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59.1
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55.0
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53.2
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52.9
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consumption of energy carriers
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53.1
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49.5
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55.9
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51.1
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sales of goods and services
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58.0
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48.9
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44.6
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43.7
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expectations for next month economic activities
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66.0
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64.4
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58.5
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59.1
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