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.”
Author: Oliver Reynolds, Economist