Iran’s Housing PMI Hits New Low
Amid the outbreak of the novel coronavirus, the Purchasing Manager’s Index for Iran’s housing sector fell to the lowest level in the month ending. Iran Chamber of Cooperatives’ latest report on PMI for the real-estate and construction sectors for the final month of the last Iranian year shows the overall index settled at 35 from 51.76 in the 11th month (Jan. 21-Feb. 19), indicating a 32.38% decline. PMI is an indicator of the health of economic sectors. It provides information about current business conditions to decision-makers, analysts and purchasing managers.