Turkey: Manufacturing PMI rises into expansionary territory in March
April 3, 2017
The Manufacturing Purchasing Managers’ Index (PMI) produced by the Istanbul Chamber of Industry (ICI) and IHS Markit increased from 49.7 in February to 52.3 in March. As a result, the PMI now lies above the 50-point threshold that separates expansion from contraction in the manufacturing sector.
The improvement in the manufacturing sector came on the back of a rise in output and employment as well as higher purchasing activity. Export orders rose at the fastest pace since April 2014 as global demand picked up steam. Meanwhile, the depreciated lira continued to aggravate prices pressures and input price inflation was high, although down slightly from February’s reading.