🔺Chamber of Commerce Says the Unloading of Raw Material Warehouses in the Industrial Sector Is Accelerating

▪The Iran Chamber of Commerce has reported an acceleration in the unloading of raw material warehouses in the industrial sector. According to this report, the index of inventories of purchased raw materials has fallen from about 44.5 in Tir to 39.3 in Mordad.

▪Meanwhile, the Purchasing Managers’ Index (PMI) for the entire economy has also dropped to 46.9, indicating economic contraction and more recession in the coming months.

▪In determining the Purchasing Managers’ Index (PMI)—a tool used to gauge the overall condition of the country’s industries through a survey of purchasing managers—50 is set as the neutral level (no change). Values below this indicate recession and crisis, while values above it indicate growth and improvement in economic conditions.