TEHRAN – A survey of the Iranian economy’s Purchasing Managers' Index (PMI) by Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) showed that the index fell to 48.06 in the fifth Iranian calendar month of Mordad (July 23-August 22) following a downward trend for three consecutive months.

Meanwhile, the PMI for the industrial sector also fell to its lowest for the past 12 months to stand at 48.45 in the mentioned month, the ICCIMA portal reported on Friday.

The data collected by ICCIMA Research Institute showed that the index for new orders has also dropped to the lowest level in the past 13 months, indicating that the market is waiting for the results of the nuclear talks.

According to economic experts, buyers are still for the outcomes of the JCPOA negotiations and the decrease in purchasing inclination of customers has caused a sharp decrease in demand.

EF/MA