Turkey PMI February 2017


Turkey: Manufacturing PMI rises in February

March 1, 2017

The Manufacturing Purchasing Managers’ Index (PMI) produced by the Istanbul Chamber of Industry (ICI) and IHS Markit increased from 48.7 in January to 49.7 in February. Despite the rise, the PMI lies below the 50-point threshold that separates contraction from expansion in the manufacturing sector.

The improvement in the manufacturing sector came on the back of a rise in output and employment. New orders also improved in February due to increased exports business. Meanwhile, the depreciation of the lira aggravated prices pressures and input price inflation was high, although down slightly from January’s reading.

FocusEconomics Consensus Forecast participants expect industrial production to rise 2.8% in 2017, which is unchanged from last month’s estimate. The panel sees industrial output increasing 3.2% in 2018.

Author: Angela Bouzanis, Lead Economist

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Turkey PMI Chart

Turkey PMI February 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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