Turkey PMI

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Turkey: Manufacturing PMI rebounds in July

August 3, 2015

The Markit Manufacturing Purchasing Managers’ Index (PMI) increased from 49.0 in June to 50.1 in July, inching up into expansionary territory. As a result, the PMI now lies above the 50-threshold that separates expansion from contraction in manufacturing conditions.

July’s rise mainly reflected improvements in output and new orders. After six-months of contraction, output was broadly stable in July, supported by a drop in backlogs of work. Although new orders recorded a seventh consecutive month of decline, the drop was more moderate than in previous months. Employment increased in July for the fourth consecutive month, albeit at a moderate pace. Markit analysts added that, “the Turkish manufacturing sector showed signs of stabilizing in July, but underlying conditions remained weak.”

FocusEconomics Consensus Forecast participants expect industrial production to expand 3.4% in 2015, which is down 0.1 percentage points from last month’s forecast. Next year, the panel expects industrial output to increase 4.4%.


Author: Angela Bouzanis, Senior Economist

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Turkey PMI July 2015

Note: Markit 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: Markit.


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