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

• 07.12.2023
• News

Istanbul Chamber of Industry (ICI) published November 2023 Report on the developments in the Global Manufacturing Purchasing Managers’ Index (PMI) in the World. The Global Manufacturing PMI rose to 49.3 in November, up from 48.8 in October. Although the index remained below the neutral 50.0 mark for the fifteenth month in a row, it signalled a decelerated contraction in the sector. Although new orders, exports and employment continued to signal deterioration in overall operating conditions, they all signalled lesser rates of decline than in the prior survey month. Input cost and selling price inflation both eased in November in comparison to October. November data indicated that the downturn in world manufacturing production was mainly centred on the intermediate goods sector, where output contracted for the sixth month in a row. 

In contrast, consumer and investment goods producers both saw increases.

22 out of the 31 nations for which November PMI data were available posted the Manufacturing PMI below the neutral 50.0 mark. 2 out of the remaining 9 nations signalled stagnation with 50.0 in November, and only 7 nations remained in growth zone.

The details of the report are as follows: