Turkey PMI August 2016

Turkey

Turkey: Manufacturing PMI drops in August

September 1, 2016

The Manufacturing Purchasing Managers’ Index (PMI), produced by the Istanbul Chamber of Industry (ICI) and IHS Markit, decreased slightly from July’s 47.6 to a multi-year low of 47.0. This brings the manufacturing PMI further below the 50-threshold that separates contraction from expansion in manufacturing conditions.

The deterioration in August was the result of a decrease in production and new orders. This was partly offset by higher employment in the manufacturing sector and longer suppliers’ delivery times. Moreover, new export businesses increased for the first time this year in August.

FocusEconomics Consensus Forecast participants expect industrial production to rise 3.8% in 2016, which is up 0.1 percentage points from last month’s estimate. The panel also sees industrial output increasing 3.8% in 2017.


Author:, Senior Economist

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Turkey PMI August 2016 0

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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