Istanbul Chamber of Industry Türkiye and Istanbul Manufacturing PMI November 2018 Reports Were Announced

  • 03.12.2018
  • News
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Istanbul Chamber of Industry Türkiye Manufacturing PMI (Purchasing Managers Index), the most reliable reference for the manufacturing industry’s performance that is the leading indicator of economical growth recorded an increase in 44,7 level in November as two months successively. Thanks to the gradual improvement in Turkish Lira, both input costs and final product prices inflation significantly receded in November.

İstanbul Chamber of Industry Istanbul Manufacturing PMI increased to 44,1 in November which the highest figure of the last three months. Both production and new orders decelerated slightly in November.

The results of the ICI Türkiye and Istanbul Manufacturing PMI surveys, the fastest and the most reliable reference for the manufacturing industry's performance that is the leading indicator of economical growth, were declared for the term November 2018. Given that the any figure above the threshold of 50,0 is an indication of improvement in the industry, PMI which was measured as 44,3 in October increased to 44.7 in November as it would be happened in the two months successively.

Index indicated that the deterioration in the activity condition is continuing but the slowdown occurred in the minimum speed of the last three months. Thanks to the gradual improvement in Turkish Lira, both input costs and final product prices inflation significantly receded in November. While increase in the input prices realized in the minimum speed observed since September 2017, final product prices showed highly moderate increase. Production, new orders and employment recorded slowdown in November but this tendency decelerated compared to the previous period. However continue of challenging market conditions caused the continue of the slowdown in three sub-items notably.

Andrew Harker, Deputy Director of Markit, who evaluated survey data of Istanbul Chamber of Industry, Türkiye Manufacturing PMI, said: “Inflation which receded as the reflection of the improvement in Turkish lira decreased the oppression partially on the Turkish manufacturers. The worst of the current deceleration could have been left behind; however, challenging activity conditions still continue and for the signal of back to the growing, there is still much to do.”

İstanbul Production PMI increased to 44.1 in November

İstanbul Chamber of Industry Istanbul Manufacturing PMI which was recorded as 43,6 in October increased to 44,1 which is the highest figure of the last three months. PMI indicated a slowdown in the fourth month successively in the operating conditions of Istanbul manufacturing industry. However, the slowdown continued to decelerate as it would happen two months successively and was recorded in the highest limited level observed since August. In parallel with the tendency in the headline data, both production and new orders decelerated more slightly in November.