Türkiye's Manufacturing Purchasing Managers' Index (PMI) was 50.1 in January and February 2023 according to the survey conducted jointly by the Istanbul Chamber of Industry and S&P Global.
The PMI index recorded readings above the 50 percent threshold in 7 of 10 sectors, including electronic & electrical equipment, machinery and metal products, and chemical, plastic & rubber products sectors.
Commenting on the report, S&P Global Market Intelligence Economics Director for Economic Indicators & Surveys Andrew Harker said, "The latest PMI data suggest that the Turkish manufacturing sector may soon resume growth. Business conditions were stable in January, while the upward trajectories of the output and new orders indices, combined with improving demand, given an indication that expansions can be recorded in the coming months."
S&P Global complies the Istanbul Chamber of Industry's Türkiye PMI index from responses to questionnaires sent to purchasing managers in a panel of approximately 800 companies across ten industries. The questionnaire responses are not interpreted, but they are reliable as they present for monthly trends and serve as a high-frequency indicator.