The Istanbul Chamber of Industry Turkey PMI Manufacturing Index increased to 51.3 in January 2020 from 49.5 in the previous month, pointing to the first month of expansion in the sector since March 2018. Output growth was the fastest in just under two years and new orders increased by the most since March 2018, boosted by a rebound in exports. In addition, employment rose for the first time in three months and purchasing activity went up at the quickest rate since February 2018. On the price front, input cost inflation accelerated to a six-month high due to ongoing currency weakness, while selling prices rose at a modest pace, albeit one that wast the fastest since June last year.
Manufacturing PMI in Turkey averaged 50.21 points from 2011 until 2020, reaching an all time high of 55.70 points in January of 2018 and a record low of 42.70 points in September of 2018. This page provides the latest reported value for - Turkey Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Markit Economics
Manufacturing PMI in Turkey is expected to be 50.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in Turkey to stand at 53.20 in 12 months time. In the long-term, the Turkey Manufacturing PMI is projected to trend around 53.40 points in 2021, according to our econometric models.