Turkey PMI March 2017

Turkey

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.

FocusEconomics Consensus Forecast participants expect industrial production to rise 2.5% in 2017, which is unchanged from last month’s estimate. The panel sees industrial output increasing 2.9% in 2018.


Author: Angela Bouzanis, Senior Economist

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Turkey PMI March 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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