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Turkey PMI May 2023

Turkey: Manufacturing PMI unchanged in May

The ICI Manufacturing Purchasing Managers’ Index (PMI) was unchanged at April’s 51.5 in May. As a result, the index remained above the 50.0 no-change threshold, signaling a continued improvement in manufacturing sector operating conditions from the previous month.

May’s positive print was driven by improving customer demand, which led to the third consecutive increase in both new orders and output. Notably, some firms were resuming production after February’s earthquake. Stronger demand also led firms to increase their staffing numbers for the first time in three months. On the price front, input costs continued to rise due to currency weakness. That said, both input cost and output charge inflation eased.

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