Turkey PMI January 2017

Turkey

Turkey: Manufacturing PMI records slight increase in January

February 6, 2017

The Manufacturing Purchasing Managers’ Index (PMI) produced by the Istanbul Chamber of Industry (ICI) and IHS Markit increased from 47.7 in December to 48.7 in January, remaining firmly below the 50-point threshold that separates contraction from expansion in the manufacturing sector.

In January, new export orders increased compared to December. However, employment stalled following five consecutive months of increases. Inflationary pressures remained strong in January and the depreciation of the lira continued to exert pressure on input prices. Analysts added that, “the purchasing activity undertaken by Turkish goods producers eased in January; however, the slowdown was more moderate compared to December.”

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 January 2017

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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