Turkey's Manufacturing Purchasing Managers' Index (PMI), one of the leading indicators measuring economic activities in the manufacturing sector and indicating the economic trends for the future, was announced as 52 in November in the survey conducted jointly by the Istanbul Chamber of Industry and IHS Markit.
The PMI index has climbed across most sectors - clothing and leather products, wood and paper products, textile products, non-metallic mineral products and chemical, plastic and rubber products.
Cranked-up business activities, along with employment boost (top three industries in the employment index being; chemical, plastic and rubber products, machinery and metal products and non-metallic mineral products), contributed to uplift production.
Commenting on the data, Andrew Harker, IHS Markit Associate Director for Economic Indices, remarked, “In November, the Turkish manufacturing sector continued to grow despite rising exchange rates."
PMI exceeded the 50-threshold level 18 times in the last 19 months in Turkey, demonstrating how resilient the manufacturing sector remained.