Istanbul Chamber of Industry (ICI) Released the February 2024 Report on Manufacturing PMI Developments in the World

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Istanbul Chamber of Industry (ICI) released the February 2024 Report on the developments in the Global Manufacturing Purchasing Managers’ Index (PMI) in the World. The Global PMI continued to signal recovery in the sector, rising to 50.3 in February from 50.0 in January, Output grew for the second month in a row in February, while new orders increased for the first time in the last 20 months. New export orders continued to decrease, though at the lowest level since June 2022, and job creation also slowed down in parallel with these developments. Supply chain pressures varied from region to region, but generally showed signs of easing. Input and product price inflation increased at rates similar to January.

Of the 32 nations for which Global PMI data are available, 17 posted below the 50 no-change mark in February, signalling a contraction in the industry. This number decreased by 1 compared to January. And another positive development was the increase of the index in 25 countries compared to the previous month.

The details of the report are as follows:

Manufacturing PMI Developments in the World (February 2024) Attach