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

  • 06.11.2023
  • News
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Istanbul Chamber of Industry (ICI) released its October 2023 Report on the developments in the Global Manufacturing Purchasing Managers’ Index (PMI) in the World. Global PMI fell to 48.8 in October from 49.2 in September, pointing to a more significant deterioration in business conditions. Output contracted for the fifth month running in October, reflecting a further deterioration in new orders which has been continuing for 16 months. The lack of demand led to cut backs in employment, purchasing and inventories. Data broken down by sector signalled that the deterioration was confined to the intermediate and investment goods industries, as both saw output contract during October. In contrast, consumer goods production rose at the quickest pace in five months. 

In October, the Manufacturing PMI index was below the neutral 50.0 mark in 24 out of the 30 nations for which data were available. And of the 7 nations posting above 50.0, 4 nations had a loss of momentum compared to the previous month.

The details of the report are as follows:

Manufacturing PMI Developments in the World (October 2023) Attach