A Contribution to the Economic Mine of Information

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Istanbul Chamber of Industry (ICI) is the biggest non-governmental organization representing our industry. The chamber recently took a historic step on September 1 with an initiative for a fast, reliable and pioneering indicator that measures the operating conditions of the industrial sector.

We have partnered with world-renowned brand Markit Economics for a cooperation to calculate Purchasing Managers Index- PMI in Turkey and to share the results with our industrialists and economy officials on a monthly basis. As part of this cooperation, the PMI is now announced monthly under the auspices of ICI. The report entitled ICI Turkey-PMI Manufacturing Index will be published for three years.

Additionally, the cooperation introduced another report first of its kind in Turkey: ICI Istanbul PMI Manufacturing Index, one of the few city-based reports Markit publishes across the world.

In every platform available, ICI strongly emphasizes the goal for manufacturing that creates technology and added value for the development of economy. We are aware of the value of information required for that goal.

Markit Economics is a globally recognized brand. We believe that it is ICI's historical responsibility and mission for Turkey's industry to engage in such cooperation to make a significant contribution towards an information society producing technology and added value in Turkey.

The most important motivation for the calculation and publication of PMI Manufacturing Istanbul Index is that Istanbul is the flagship of Turkey, accounting for one fourth of national income, nearly half of total exports and nearly 40% of industrial production. Istanbul is the city that whets Turkey's appetite for industrial production. As the heart of Turkey and main driver of economy, Istanbul will reinforce its role as barometer for Turkish industry thanks to the PMI data.

PMI Turkey and Istanbul indices will offer quality, rapid, up-to-date and reliable information on the manufacturing industry and overall economic growth performance. The data provided by the reports will help faster and sounder strategic decisions by economic actors in Turkey at large, Istanbul’s industry in particular, as well as by ICI.

Erdal Bahçıvan
Istanbul Chamber of Industry
Chairman of the Board