Istanbul Chamber of Industry Announces Turkey and Istanbul Manufacturing PMI Reports for April 2017

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The Istanbul Chamber of Industry’s Turkey Manufacturing PMI (Purchasing Managers Index) reached 51.7 in April, above the threshold of 50.0. This second highest result since December 2015 indicates the continuation of the strong improvement in the operating conditions of the manufacturing industry.

Meanwhile, The Istanbul Chamber of Industry’s Istanbul Manufacturing PMI climbed to 52.1 in April, signaling a strong improvement in the operating conditions of the manufacturing industry of Istanbul, Turkey’s largest city. The growth in April PMI was brought about by improvements across the board in all five sub-indexes.

The Istanbul Chamber of Industry announced the Turkey and Istanbul PMI (Purchasing Managers Index) manufacturing survey results for April 2017. The survey is recognized as the fastest and the most reliable reference for the manufacturing industry’s performance, a key indicator for economic growth.

According to the survey results, which indicate improvement in the sector with all readings reaching above the threshold of 50.0, the Istanbul Chamber of Industry’s Turkey Manufacturing PMI hit 51.7 in April.  After increasing in March to 52.3 in one of the highest monthly growths in the history of the 12-year survey, the PMI dropped slightly in April, but remained above the threshold. With a long term average above 50.7, in April PMI recorded its second highest result since December 2015, indicating the continuation of the strong improvement in the operating conditions of the manufacturing industry. The overall improvement in manufacturing in April was due to the further growth in new business volume. The growth in new business volume, which fell slightly over March, is still the third highest recorded in the last three years. At the same time, new export orders grew for the fourth consecutive month.

Trevor Balchin, IHS Markit Senior Economist, commented on the Istanbul Chamber of Industry’s Turkey PMI Manufacturing survey results for April: “Turkish manufacturing industry remained on its course of improvement in April with robust growth in production, new orders, and exports. This reflected a drive by manufacturers for expansion of their procurement and employment activities. And lastly, the results from the latest survey also indicate that the price pressure on the manufacturing industry are further alleviated.”

Istanbul Manufacturing PMI records robust growth to 52.1 in April

The Istanbul Chamber of Industry’s Istanbul PMI Manufacturing index climbed above the threshold April, rising to 52.1 from 49.7 in March. The Index reached its highest since November 2014 and above its long-term average (since January 2006) of 50.5, signaling a strong improvement in the operating conditions of the manufacturing industry of Istanbul, Turkey’s largest city. The growth in April PMI was brought about by improvements across the board in all five sub-indexes. The Manufacturing Index climbed to its highest level in the last 38 months driven by new orders and employment indexes, which also exceeded the threshold of 50.0. The average delivery times of suppliers increased slightly over March. The Input Stocks Index remained below the 50.0 threshold, but saw a slight increase over March.

Istanbul Chamber of Industry Turkey PMI Manufacturing Index (April 2017) Attach Istanbul Chamber of Industry Istanbul PMI Manufacturing Index (April 2017) Attach