Turkey: PMI decreases in April
The Istanbul Chamber of Industry Türkiye Manufacturing Purchasing Managers’ Index (PMI) fell to 49.3 in April from 50.0 in March. As a result, the index moved below the 50.0 no-change threshold, and signaled a deterioration in manufacturing sector operating conditions compared to the previous month.
In April, new orders fell for the tenth consecutive month, as rising prices and elevated interest rates dented demand. Weaker demand contributed to a renewed moderation of output. Despite this, employment levels remained broadly unchanged, and firms increased their purchasing activity in an effort to build inventories.
Inflationary pressures on input costs remained high due to currency weakness and increased prices for raw materials and logistics, although the rate of inflation eased to a four-month low. Similarly, selling price inflation also moderated to the lowest rate seen in the same period.