Istanbul Chamber of Industry Türkiye and İstanbul Manufacturing PMI October 2018 Reports Were Announced

  • 01.11.2018
  • News
PMI-ekim2018_eng

Istanbul Chamber of Industry (ICI) Türkiye Manufacturing PMI (Purchasing Managers Index), the fastest and the most reliable reference regarding the performance of the manufacturing industry, has been recorded as 44.3 in October by raising for the first time since July. Thanks to the exchange rate’s gaining stability, input charges inflation significantly receded in October. Recede in production, new orders, employment and purchase activities decelerated compared to September.

Istanbul Chamber of Industry (ICI) İstanbul Manufacturing PMI (Purchasing Managers Index) was recorded as 43,6 in October, and indicated that the deterioration in the activity conditions decelerated slightly with a small increase compared to September.

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 economical growth, were declared for the term October 2018.

Given that the any figure above the threshold of 50,0 is an indication of improvement in the industry, PMI which was measured as 42.7 in September increased to 44.3 in March since July for the first time. Therefore, the activity conditions decelerated within the last seven-month period. Thanks to the exchange rate’s gaining stability, input charges inflation significantly receded in October. It has been observed that the similar situation is valid for final product prices. Final product prices inflation was recorded as the minimum level observed since the March. Recede in production, new orders, employment and purchase activities decelerated compared to September. New export orders decelerated for the second month successively and recession accelerated compared to the last month. With the effect of the deceleration in the demand conditions, manufacturers decreased their employment and purchasing activities. Difficulties in the supply chains were observed to increase in October and average delivery time of manufacturers increased to the maximum level observed since June 2005 when the survey first started.

Andrew Harker, Deputy Director of Markit, who evaluated survey data of Istanbul Chamber of Industry, Türkiye Manufacturing PMI, said: “Latest PMI data has indicated that the worst was left behind with September in the hardest activity conditions. While basic indicators such as production, new orders and employment are giving a signal of a more moderate slowdown, inflation has been observed to be decelerated. However the market conditions have continued to be challenging for firms. Activity conditions should be improved in the following months more so that we can start regrowing.

İstanbul Manufacturing PMI became 43.6 in October

Istanbul Chamber of Industry (ICI) İstanbul Manufacturing PMI (Purchasing Managers Index) which was recorded as 43,5 in September has been recorded as 43,6 in October, and indicated that the deterioration in the activity conditions has decelerated slightly with a small increase compared to September. PMI could not exceed the threshold of 50,0 for the third month successively. Because of the continue of challenging market conditions, firm slowdown in production and new orders continued in October. However, the slowdown in the both sub-items slightly occurred compared to September. Besides, new export orders have reached to the growing area again and third increase in the last four months have been recorded.