Iran’s factory activity expands in September: ICCIMA
Iran’s factory activity rose firmly in September amid better sales reported by metals and vehicle manufacturers.
Results of a study by Iran Chamber of Commerce, Industries, Mines & Agriculture (ICCIMA) published on Thursday pointed to a rise in the purchasing managers' index (PMI) in several key sectors of the Iranian economy.
ICCIMA reported PMIs of above 50% for a bulk of factory activities in Iran in September, as the figures showed that the manufacturing sector and the economy as whole had moved out of a contraction reported in August.
The manufacturing PMI reported by the ICCIMA for Iran in September was 53.25%, up 4.8% from August while the average PMI reading rose 4.02% to 52.08% in September, according to the figures covered in a report by the ISNA news agency.
The highest September PMI within the Iranian manufacturing sector was reported for metals factories at 59.4%, showed the report.
That comes despite a fall reported in the Iranian metals exports in September that was caused by lower global demand and stiff competition from Russia.
The figures showed that automotive sector’s PMI rose to 58.5% in September amid reports showing that two largest carmakers the IKCO and Saipa had increased their output over that month.
The ICCIMA compiles its monthly PMIs based on responses to questions sent to purchasing managers in Iran. The 50-point mark in PMI separates contraction from growth on a monthly basis.
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