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

• 06.07.2024
• News

Istanbul Chamber of Industry (ICI) released June 2024 Report on the developments in the Global Manufacturing Purchasing Managers’ Index (PMI) in the World. Global Manufacturing PMI posted 50.9 in June, down slightly from May's high of 51.0. The PMI has remained above the neutral 50.0 mark and at the highest level of approximately 2 years. The average of the index rose to 50.7 in the second quarter from 50.3 in the first quarter.

The rate of increase in output, total new orders and employment in the global manufacturing sector in June was close to May. However, new export orders fell for first time in three months. Manufacturers' business optimism dipped to an eight-month low. Despite the relatively mild supply chain pressures, input costs and thus the selling prices increased at the fastest pace in nearly 1.5 years. Among the 32 national economies for which manufacturing PMI is released, the number of economies that recorded growth (PMI > 50.0) declined to 18 in June from 21 in May. Positive outlook of the Asia-Pacific region continued, while the Eurozone continued to be the center of weakness.

The details of the report are as follows: