TEHRAN (Financial Tribune) — The PMI went from 41.91 in the Iranian month of Mehr (23 September-22 October) to 39.21 in Azar (22 November - 21 December); the average quarterly figure was 40.69, indicating a reduction in Iran’s economic activity.

The Iranian Centre for Statistics and Economic Analysis of the Chamber of Commerce, Industry, Mines and Agriculture measured for the first time the Purchasing Managers Index in Iran under the acronym Shameh for the quarter ending December 21.

The new report shows that the Iranian economy is in decline, but forecasts of increased production in the third quarter (23 September-21 December) have increased, which, according to Financial Tribune, inspires optimism about the industrial sector in the near future.

It should be noted that the Purchasing Managers’ Index (PMI) are economic indicators derived from monthly surveys of private sector companies. PMI is an indicator of the economic well-being of the manufacturing and service sectors. PMI’s objective is to provide information on current business conditions to decision-makers, analysts and purchasing managers.