Istanbul Chamber of Industry (ICI) Published May 2022 Report on Manufacturing PMI Developments in the World
The Global Manufacturing Purchasing Managers' Index® (PMI) inched up from 52.3 in April to 52.4 in May, though remained at the second-lowest level recorded over the past 20 months.
Even though the Output Index rose by 1.1, it still remained below the 50.0 no change level to thereby register a second successive monthly fall.
The drop in output was mainly due to slowing of demand, supply chain delays, high inflationary pressures, the war in Ukraine and sharp downturn in factory production in China. The global-excluding-China PMI Output Index posted 52.7.
New Export Orders Index dropped 0.4 point to 47.9, signaling an acceleration of contraction in the global trade.
The details of the report are as follows: