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.