Turkey PMI December 2016

Turkey

Turkey: Manufacturing PMI dips again in December

January 2, 2017

The Manufacturing Purchasing Managers’ Index (PMI) produced by the Istanbul Chamber of Industry (ICI) and IHS Markit fell from 48.8 in November to 47.7 in December, the lowest figure in four months and firmly below the 50-point threshold that separates contraction from expansion in the manufacturing sector.

Firms’ output and new orders fell in December compared to November, while employment rose for the fifth month running and export orders dipped slightly following a strong showing in the previous month. Also, the depreciation of the lira pushed up manufacturing input prices, with inflation continuing its upward trend. In the goods producing sector purchasing activity slowed in December compared to the prior month, although employment in the sector rose.

FocusEconomics Consensus Forecast participants expect industrial production to rise 3.1% in 2017, which is unchanged from last month’s estimate. The panel sees industrial output increasing 3.6% in 2018.


Author:, Economist

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Turkey PMI December 2016

Note: Istanbul Chamber of Industry Turkey Purchasing Managers’ Index (PMI). A reading above 50 indicates an expansion in business activity while a value below 50 points to a contraction.
Source: Istanbul Chamber of Industry and IHS Markit.


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