Turkey: Manufacturing PMI recovers slightly in September
October 3, 2016
The Manufacturing Purchasing Managers’ Index (PMI), produced by the Istanbul Chamber of Industry (ICI) and IHS Markit, increased slightly to 48.3 in September from August’s 47.0, which had marked a multi-year low. This brings the manufacturing PMI closer to the 50-threshold that separates contraction from expansion in manufacturing conditions.
The improvement in September was the result of an improvement in output and new orders, which declined at the slowest rate in four months. Moreover, employment increased for the second consecutive month in September. Analysts at IHS Markit added that, “the other key finding from the latest survey was a further receding of inflationary pressures.”
Author: Dirina Mançellari, Senior Economist