Istanbul Chamber of Industry (ICI) Released May 2023 Report on Developments in the World Manufacturing PMI

  • 06.06.2023
  • News
world-manufacturing-PMI-may2023-01

Istanbul Chamber of Industry (ICI) released its May 2023 Report on the developments in the Global Manufacturing Purchasing Managers’ Index (PMI) in the World. The Global PMI posted 49.6 in May as it was in March and April. It is the ninth consecutive month it remains below the 50.0 no-change mark. The continued expansion in production for four consecutive months reached its highest level of the last 11 months in May. However, there were big differences between the regions. The strong performance of Asia compensated for the slow expansion in the North America and contraction in Europe.

Easy access to raw materials supported the continued expansion in production. Suppliers’ lead times continued to shorten significantly, which led to a drop in both input costs and sales prices for the first time in three years.

The details of the report are as follows:

Manufacturing PMI Developments in the World (May 2023) Attach