Istanbul Chamber of Industry Türkiye and Istanbul Manufacturing PMI February 2019 Reports are Announced

  • 01.03.2019
  • News
PMI-subat2019_eng-01

Istanbul Chamber of Industry Türkiye Manufacturing PMI (Purchasing Managers Index), the most reliable reference for the manufacturing industry’s performance that is the leading indicator of economic growth increased to 46,4 which was the highest rate of the last six months in February. Slowdown tendency in facility conditions left the 11th month behind itself. While the manufacture receded in lower rate compared to the January, expanding new export orders into growth region supported the total new workflow.

Istanbul Chamber of Industry Istanbul Manufacturing PMI was measured as 46,7 in February and thus it pointed out that the slowdown in the facility conditions of Istanbul manufacturing sector continued. However, PMI increased in February compared to January and it showed that the slowdown lost acceleration in fifth months successively.

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 economic growth, were declared for the term February 2019.

Given that the any figure above the threshold of 50 is an indication of improvement in the industry, Istanbul Chamber of Industry Turkish Manufacturing Industry PMI which was measured as 44.2 in January increased to 46,4 which was the highest rate of the last sixth months in February. However, slowdown tendency in facility conditions left the 11th month behind itself. The manufacture recessed in a lower rate compared to January as parallel with the tendency in the headline index. The slowdown in the new orders lost acceleration during fifth month successively. New export orders’ expanding into growth area supported the total new workflow.

Slow continuation of the new orders caused companies to decrease employment rates in February. Yet, the most limited employment decrease which had been continuing for seven months was experienced in this period. Weakness in Turkish Liras caused an increase on a monthly basis once again in the input costs. The inflation rate increased in a slight scale compared to January; however, it was way below the levels observed during 2018. Companies increased the prices of goods as a reflection of the increase in the cost burdens. However, relatively weak demand conditions caused the increase in the sales prices to be limited. While the manufacturers decreased their purchasing activities in February, decrease in both input and final product stocks was recorded.

Andrew Harker, Deputy Director of Markit, who evaluated survey data of Istanbul Chamber of Industry, Türkiye Manufacturing PMI, said: Challenges which have maintained their existence in Turkish economy caused manufacturing sector to slow down in February as well. Additionally, some improvement indicators, especially new export orders’ expanding into growth area were recorded. Slowdown’s losing acceleration in the total new orders indicates that the sector has taken another step to close to pull itself together.

İstanbul Production PMI increased to 46.7 in February.

Istanbul Chamber of Industry Istanbul Manufacturing PMI which was measured as 46,3 in January was measured as 46,7 in February and thus it pointed out that the slowdown in the facility conditions of Istanbul manufacturing sector continued. However, PMI increased in February compared to January and it showed that the slowdown lost acceleration in five months successively. Challenging market conditions in Turkish economy caused Istanbul manufacturers to recede their new orders in February for 7th month successively. However, this slowdown continued to lose acceleration and it realized at the lowest rate of the seven-month-period. A decrease was experienced in the new export orders and this decrease was recorded in a lower rate compared to the one in the total new orders.