Manufacturing PMI in Turkey recovers slightlyStaff Writer | October 5, 2016
The Manufacturing Purchasing Managers’ Index (PMI), by the Istanbul Chamber of Industry (ICI) and IHS Markit increased slightly to 48.3 in September from August’s 47.0, which had marked a multi-year low.
Turkey The improvement in September
The improvement in September was the result of an improvement in output and new orders, which declined at the slowest rate in four months.
Moreover, employment increased for the second consecutive month in September. Analysts at IHS Markit added that, “the other key finding from the latest survey was a further receding of inflationary pressures.”
FocusEconomics Consensus Forecast participants expect industrial production to rise 3.8% in 2016, which is up 0.1 percentage points from last month’s estimate. The panel also sees industrial output increasing 3.8% in 2017. ■