Turkey PMI October 2018


Turkey: Manufacturing PMI ticks up in October but remains in contractionary territory

November 1, 2018

The Purchasing Managers’ Index (PMI), produced by the Istanbul Chamber of Industry (ICI) and IHS Markit, increased from 42.7 in September to 44.3 in October. However, the index remained below the crucial 50-point threshold that separates expansion from contraction in the manufacturing sector for the seventh consecutive month.

The uptick in the index came on smaller contractions in output, new orders and employment. However, the decline in new export orders deepened. Input and output price inflation eased thanks to greater stability in the foreign exchange market.

In line with lower manufacturing output, Central Bank figures showed that the manufacturing sector’s capacity utilization rate declined from 76.2% in September to 75.4% in October, the weakest reading in over three years.

Turkey Fixed Investment Forecast

FocusEconomics Consensus Forecast participants expect fixed investment to decline 5.1% in 2019 and to expand 3.8% in 2020.

Author:, Economist

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Turkey PMI Chart

Turkey PMI October 2018

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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