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

  • 01.02.2019
  • News
PMI-ocak2019_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 was recorded as 44,2 in January by indicating an horizontal appearance. Thus, PMI pointed out a slowdown which is a similar with the one in the December in facility conditions.

Istanbul Chamber of Industry Manufacturing PMI increased to 46,3 percent in January and moved its increase tendency to the fourth month. The latest survey data showed that the facility conditions in the sector continue to slow down but this slowdown has been realizing at the minimum rate which have been observed since August 2018.

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 January 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 December was recorded as 44.2 in March by showing a horizontal appearance in January. PMI pointed out a slowdown which is a similar with the one in the December in facility conditions.

While the manufacturing index was recorded in a level which was close to the one in December, the slowdown in the new orders lost acceleration and it was realized at the minimum rate observed since August. New export orders were stable as based on the improvement indicators in the international demand for Turkish goods. Input prices continued to increase in January; however, the input prices inflation receded in the last four months and they realized behind the serial average. Decrease in the cost inflation provided opportunity for manufacturers to decrease their prices for increasing their new work capacity. Prices of final goods recorded decrease in the second month successively. The decrease realized at the highest speed of the last 10 years. Slowdown in the manufacturing directed the manufacturers to review the employment level. Therefore, the decrease in the employment continued; however, the decrease lost acceleration compared to December.

Andrew Harker, Deputy Director of Markit, who evaluated survey data of Istanbul Chamber of Industry, Türkiye Manufacturing PMI, said: “Discounts in the prices of final goods help slowdown in the new orders lose acceleration. Challenging facility conditions in Turkish manufacturing sector continued at the beginning of 2019. Contribution of the international demand realized in a level which was close to the one in the previous month was recorded as one of the positive aspects of the survey.”

İstanbul Production PMI increased to 46.3 in January.

Istanbul Chamber of Industry Istanbul Manufacturing PMI which increased to 45,2 in December was measured as 46,3 in January by maintaining its increase graphic. PMI moved its increase tendency to fourth month. The latest survey data showed that the facility conditions in the sector continue to slow down but this slowdown has been realizing at the minimum rate which have been observed since August 2018. Istanbul manufacturers receded the manufacturing for six months successively, which was the reflection of the challenging market conditions; however, the most limited acceleration loss of the period was recorded in January. Despite of observing an acceleration lost in the new orders like in the manufacturing, this tendency recorded a moderation during the last four months.