Turkey: Manufacturing PMI strengthens in December
January 4, 2016
The Manufacturing Purchasing Managers’ Index (PMI), elaborated by the Istanbul Chamber of Industry (ICI) and Markit, rose from 50.9 in November to 52.2 in December, hitting the highest level since November 2014. As a result of the improvement, the PMI remains firmly entrenched above the 50-threshold that separates contraction from expansion in manufacturing conditions.
December’s print mainly reflected that new orders, output, purchasing activity and employment all expanded at a faster pace than in the previous month. ICI analysts added that, “Turkish manufacturers ended what has been a subdued year on the front foot in December, boosted by the strongest rise in new work since early-2014. Encouragingly, new export orders also rose at a quicker pace despite reports that recent geopolitical tensions had weighed on international demand somewhat. The other key finding from the latest survey was the ongoing moderation in input price inflation.”