Turkey PMI September 2016

Turkey

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.”

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 September 2016

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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