Skyline at golden hour in Turkey

Turkey PMI March 2022

Turkey: Business conditions deteriorate in March

The ICI Manufacturing Purchasing Mangers’ Index (PMI), produced by S&P Global, fell to 49.4 in March from 50.4 in February. This marked the first time in 10 months that the index dropped below the neutral 50-threshold which separates deteriorating from improving business conditions compared to the prior month.

The headline drop came amid the fallout from Russia’s invasion of Ukraine, exacerbating headwinds already faced by the sector, as demand, prices and supply chains all felt the impact. The war led to subdued customer demand, with the spiraling prices discouraging clients. Both domestic and foreign new orders were dented by the war and, consequently, weighed on output. Furthermore, job creation slowed to the weakest level in nearly two years. Meanwhile, input costs rose on the back of the war as well, with the military conflict leading commodity to prices spike. Continued currency weakness also impacted cost burdens. That said, input cost inflation eased to a five-month low. On the other hand, output price inflation accelerated.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest