Istanbul Chamber of Industry Announces the Turkey and Istanbul PMI Manufacturing Survey Results for October 2016

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The Istanbul Chamber of Industry Turkey PMI Manufacturing index increased to 49.8 in October, indicating stabilization in the operating conditions of the manufacturing industry. New export orders escalated for the second time in the last three months, while purchasing level saw the strongest growth of nearly the last two years.

The Istanbul Chamber of Industry Istanbul PMI Manufacturing index rose for the third consecutive month, setting the threshold at 50.0 in October. The PMI index marked stabilization in the operating conditions of Istanbul's manufacturing industry. Employment grew at its fastest pace since June, while new export orders displayed a moderate increase.

Istanbul Chamber of Industry announced the Turkey and Istanbul PMI (Purchasing Managers' Index) Manufacturing Survey Results for October 2016. The survey is recognized as the fastest and the most reliable reference for the manufacturing industry’s performance, which is a key indicator for economic growth.

The survey reports that the PMI index stood below the threshold of 50.0 in October. However, it reached 49.8 in October, up from 48.3 in September, thus implying stabilization in the operating conditions of the manufacturing industry. Furthermore, the index recorded higher than 48.9, which was the average level in the first ten months of 2016. In October, new export orders increased for the second time in the last three months, while purchasing level saw the strongest growth of nearly the last two years.

"The October PMI index showed signs of stabilization in the manufacturing industry, nearing a neutral level. Although the Production and New Orders indexes, purged of seasonal impacts with the growth in exports, increased in comparison to the previous month, they remained below the threshold of 50.0. However, the ascent of input stocks and employment rates ushered a potential upturn for manufacturing in the upcoming months", commented Trevor Balchin, Senior Economist at IHS Markit, on Istanbul Chamber of Industry Turkey PMI Manufacturing survey.

Istanbul PMI Manufacturing index increased for the third consecutive month

The Istanbul Chamber of Industry PMI Manufacturing index increased for the third consecutive month in October and stood at the threshold of 50.0, indicating stabilization in the operating conditions of Istanbul’s manufacturing industry. The index recorded the highest since February. The increases of new orders and employment rates were the major positive contributors to the headline PMI index in October. New orders increased for the first time since May, while employment rates grew at the fastest pace since June. New export orders exhibited a moderate increase, as well.

Istanbul Chamber of Industry Turkey PMI Manufacturing Index (October 2016) Attach Istanbul Chamber of Industry Istanbul PMI Manufacturing Index (October 2016) Attach