Istanbul Chamber of Industry Turkey and Istanbul Manufacturing PMI Reports for April 2018 were Published
Istanbul Chamber of Industry Manufacturing PMI (Purchasing Managers Index) of Turkey, being the fastest and most reliable in the manufacturing industry performance, realized as 48,9 in April, which implies more challenging activity conditions for Turkish manufacturing industry. Production kept growing despite the deceleration in new purchase orders. The strong growth in the global economy contributed to expanding of purchase orders received from foreign markets.
Istanbul Chamber of Industry Manufacturing PMI has been reported as 49,2 for April, which implies more challenging activity conditions for Istanbul manufacturing industry. While export orders kept its resistant trend, employment increased as to be the thirteenth consecutive month.
Survey results of Istanbul Chamber of Industry (ICI) Turkey and İstanbul PMI (Purchasing Managers Index), accepted as the fastest and most reliable reference in the manufacturing industry performance which is the leading indicator of economic growth, for April 2018 were published.
According to results of the survey where all figures measured above 50,0 being the threshold value, Istanbul Chamber of Industry Turkey Manufacturing PMI having been measured as 51,8 in March, realized as 48,9 in April, which implied more challenging activity conditions for the Turkish manufacturing industry. Participants stated that the moderate slowdown in the industry was primarily due to fluctuations in the market. Total new purchase orders received by the Turkish manufacturers lost acceleration at the beginning of the second quarter.
According to the participants of the survey, this was caused by market conditions. Companies slowed-down recruitment and purchasing activities, accordingly. Production kept growing despite the decrease in new purchase orders, which was recorded as a positive development. Production growth was primarily induced by new investments. The strong growth in the global economy contributed to continuous expanding of purchase orders received from foreign markets. Developments in the demand conditions helped companies complete their due works. However, the inflationary pressure in the manufacturing industry continued on a strong level in April. The increase in input prices continued due to the depreciation in Turkish Lira. As a reflection of the trend observed in input costs, companies continued raising average sales prices at the beginning of the second quarter.
IHS Markit Economist Gabriella Dickens, interpreting survey results of Istanbul Chamber of Industry Manufacturing PMI of Turkey, stated that: “Manufacturing PMI of Turkey indicated that the industry conducted activities under more challenging conditions in April. This was caused by the deceleration in total new purchase orders and employment. The continuous increase of production and high volumes of export orders were recorded as positive developments.”
Istanbul Manufacturing PMI occurred as 49,2 in April
Istanbul Chamber of Industry Istanbul Manufacturing PMI, having been measured as 52,2 in March, has been reported as 49,2 for April, which implies more challenging activity conditions for Istanbul manufacturing industry. Participants stated that this was primarily caused by weak market conditions. The last survey data indicated that new purchase orders decelerated in April, after the acceleration for 12 consecutive months. A moderate momentum loss was experienced in production as a reflection of this. Export orders of Istanbul manufacturers preserved the resistant trend. Data showed that the increase in export also kept increasing in April thanks to the strong environment in the global economy. Continous increase in employment was recorded as another positive development of the survey. Thus, employment increased to be the thirteenth month in a row. According to participants of the survey, the increase in employment was induced by the planned expansion in economic activities.