Istanbul Chamber of Industry Announces Türkiye and Istanbul Manufacturing PMI May 2019 Reports

  • 03.06.2019
  • News
PMI-mayis2019-01_eng

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 realized as 45,3 in May. Input costs and final product prices increased in May where the value loss in Turkish lira affected manufacturing sector increased.

Istanbul Chamber of Industry Istanbul Manufacturing PMI increased to 47,1 percent in May. Acceleration loss in activity conditions in May when İstanbul manufacturing sector was a step closer to gaining stability realized in the lowest speed in the last 10 months.

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 May 2019. Given that the any figure above the threshold of 50,0 is an indication of improvement in the industry, Turkish Manufacturing Industry PMI realized as 45,3 in May.

Input costs and final product prices increased in May where the value loss in Turkish lira affected manufacturing sector increased. As the reflection of this, the weakness indicators in the consumer demand maintained its existence. While new orders lost acceleration, some survey participants drew attention to the weakness in the demand of the European customers. This caused the purchasing activities to be decreased. Delivery terms of the suppliers increased moderately.

Andrew Harker, Deputy Director of Markit, who evaluated survey data of Istanbul Chamber of Industry, Türkiye Manufacturing PMI, said: “Effects of the value loss in Turkish lira maintained its existence on the manufacturers in May as well. Keeping the deceleration tendency of new orders since the new year postponed the recovery expectations at the first quarter.”

İstanbul Production PMI increased to 47.1 in May.

Istanbul Chamber of Industry Istanbul Manufacturing PMI increased to 47,1 percent in May. Acceleration loss in activity conditions in May when İstanbul manufacturing sector was a step closer to gaining stability realized in the lowest speed in the last 10 months based on the deceleration of the slowdown in the manufacturing and new orders.

Several recovery indicators were observed in May when the manufacturers stated that fragile demand conditions were still available. Slowdown in the new export orders decelerated. Positive tendency in the new orders reflected upon the manufacturing aspect and the decrease realized in a more moderate level. Input costs and final product prices increased. Slowdown in the purchasing activities caused the deceleration in the input stocks. Final product stocks were decreased because some survey participants preferred to use available stocks to meet the new orders.