The Turkish government’s decision to ease the COVID-19 restrictions has begun to pay off, as evidenced by the rebounding of Turkey’s Purchasing Managers’ Index (PMI) to 53.9 in June.
According to the report jointly prepared by the Istanbul Chamber of Industry and IHS Markit, a global data firm based in London, Turkey’s manufacturing PMI has surpassed 50.0 for the first time since February 2020. The PMI was 40.9 in May, which itself was an improvement over the record low of 33.4 set in April 2020.
The report said, "A return to near-normality amid the lifting of COVID-19 restrictions enabled manufacturers to expand their production volumes at a marked pace during June." It was also stated that a monthly peak in new orders, output, and employment were seen in June.