Istanbul Chamber of Industry Türkiye and Istanbul PMI August 2019 Reports Were Announced

• 02.09.2019
• News

Istanbul Chamber of Industry Turkish Manufacturimg PMI (Purchasing Managers Index), accepted as the fastest and most reliable reference in the Manufacturimg industry performance which is the leading indicator of economical growth increased to 48,0 in August and has been recorded as the highest level since July 2018.

Istanbul Chamber of Industry Istanbul Manufacturing PMI has not shown any change in August and realized in the level of 49,6 and indicated to a very moderate slowdown in the activity conditions of Istanbul Manufacturing industry.

August 2019 survey results of Istanbul Chamber of Industry (ICI) Turkish and Istanbul Manufacturing PMI (Purchasing Managers Index) accepted as the fastest and the most reliable reference in the Manufacturing industry performance which is the leading indicator of Economics growth were announced.

According to the survey results where the figures measured as higher than 50,0 which is the threshold value point out to improvement, Turkish manufacturing PMI which had realized as 46,7 in July increase to 48,0 in August. In addition to indicating a slowdown in the activity conditions of the sectors, Turkish Manufacturing PMI has been recorded in the highest level since July 2018.

Decelaration in the new order as the refleftion of the survey data pointing out to the built-up in the demand was recorded in the most moderate level of the last 17 months. Besides, challenging market conditions in both Türkiye and international scale led to a moderate slowdown in both total new orders and the new export orders. Similarly, production lost its acceleration in August as well. Some companies have been observed to increase their employment capacities in August depending on the potential of the production to increase. Generally, the capacity level of personnels progressed in almost horizontal level following 12-month-slowdown.

Inflation of income costs of companies recorded an obvious decrease and increase speed in income costs has been realized in the most limited level since September 2016. Generally, inflation of final product prices was recorded in the most moderate level and slowdown in the third month subsequently was recorded.

Andrew Harker, IHS Markit Deputy Director evaluating the survey results of Istanbul Chamber of Industry Turkish Manufacturing PMI said that: " The most moderate slowdown observed in the last one and a half yarin New order support the positive perspective that the transformation of Turkish firms into the growth might be realized in the near future. It is seen that this positivity has affected the recruitment program and manufacturers maintained the employment level as the reflection of their expectation towards the increase in the production in the following months. On the other side, challenges in receiving new order with the impacts of the problems which Manufacturing sector has gone through in the global scale."

Istanbul Manufacturing PMI Was Recorded as 49,6 in August

Istanbul Chamber of Industry Istanbul Manufacturing PMI which had been recorded as 49,6 in July did not show any change in August and realized as 49,6 and pointed out that a highly moderate slowdown has been experienced in the activity conditions of Istanbul manufacturing sector. The same value which the index has taken in July and August has been recorded as the highest level of the last 13-month-period. Both total new orders and new export orders increased in August when the positive news in the order situation were received. While a growth in total New orders have been experienced for the first time during the last one and a half year approximately, survey participants stated that the driving force behind this situation is the improvement in the customer demand.