Recession in Construction: Latest PMI Statistics Show

November 15, 2022
real estate

T he construction sector has plunged into recession, the latest data of Iran Chamber of Cooperatives on Purchasing Managers’ Index for the sector indicate.

The index settled at 37.09 in the seventh month of the current fiscal year (Sept. 23-Oct. 22) down from 42.69 in the preceding month (Aug. 23-Sept. 22), indicating a 13.11% decrease.

PMI is an indicator of the health of economic sectors and provides information about business conditions to decision-makers, analysts and purchasing managers.

Raw material inventory, employment conditions, new orders, supplier deliveries and export/production conditions are among the criteria quizzed, yielding a final score of between 1 and 100.


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