ran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) has released the country’s latest Purchasing Managers’ Index (PMI) data for the fiscal month of Mehr (September 23 – October 22, 2025), showing that while business conditions across the economy remained in contraction for the 19th consecutive month, the pace of decline eased slightly.
The seasonally adjusted headline PMI for the whole economy rose to 47.4 in Mehr, up from 45.5 in the previous month. The increase indicates that although the downturn persisted, the rate of decline slowed compared with Shahrivar (August 23 – September 22).
Seasonal adjustment, or deseasonalization, is a statistical method used to remove the seasonal component from a time series, allowing for the independent analysis of trends and cyclical deviations. After preparing dozens of PMI (Purchasing Managers' Index) reports, the Research Center of Iran Chamber of Commerce, Industries, Mines, and Agriculture has now identified the seasonal components of these time series and prioritized seasonal adjustment in its monthly PMI reports.
The ICCIMA’s Statistics and Economic Analysis Center, 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 new survey showed that production and service output remained below the neutral threshold for the 19th month in a row, though the decline was milder than in the previous month.
The “new orders” sub-index continued to fall for the 20th consecutive month, with exports also extending their downward trajectory.
Meanwhile, input costs surged to their highest level in 30 months, while the prices of final products and services recorded their highest reading in eight months.
Employment conditions weakened further, with the “employment” sub-index falling to its lowest point in four months. In contrast, business expectations for future activity improved markedly, reaching their highest level in 11 months.
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INDEX
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Mordad1404 (July-Aug2025)
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Shahrivar1404 (Aug-Sep2025)
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Mehr1404 (Sep-Oct2025)
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PMI (seasonally adjusted)
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45.3
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45.5
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47.4
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business activities
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44.0
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45.3
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47.6
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new orders
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42.3
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43.0
|
46.2
|
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suppliers’ delivery time
|
48.5
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49.4
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53.5
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raw material inventory
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45.1
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43.5
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47.1
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|
employment
|
49.2
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47.5
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44.5
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raw materials price
|
76.3
|
78.2
|
85.6
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finished goods inventory
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52.4
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48.1
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50.9
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exports of goods and services
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42.8
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44.9
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43.6
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price of goods and services
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54.6
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58.5
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64.9
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consumption of energy carriers
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45.2
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51.8
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50.0
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sales of goods and services
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48.1
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52.1
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48.0
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expectations for future activity
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46.5
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38.4
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54.1
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