Istanbul Chamber of Industry pointed out Turkey Production PMI (Purchase Managers Index) to increase by 54,7 in June and the general improvement in activity conditions of Turkish production industry to reach the highest level since November 2013.

Istanbul Chamber of Industry, Istanbul Production PMI was determined as 52,2 and it pointed out that strong improvement in activity conditions generally continued.

By this means, companies reduced their accumulated business despite of higher rate increase in newly obtained business. Last questionnaire showed that inflationary pressures in the industry relieved more.

As per results questionnaire, where all the numbers measured were over 50,0 - the threshold value, refer to industry improvement, Istanbul Chamber of Industry pointed out, Turkey Production PMI that was measured as 53,5 in the previous May increased by 54,7 in June, and emphasized that general improvement in activity conditions of Turkish production industry occurred at the strongest level compared November 2013.

Thus, headline was measured over 50,7 which is the long-term average to be successive four months of PMI. Raise in PMI arose from high rate increases in new orders, production and employment. General improvement in activity conditions of the production industry arose from the highest increase recorded in new orders as of February 2011. Production of producers in the last 43 months, and employment in the last 29 months recorded an increase at the strongest level.

Trevor Balchin, IHS Markit Senior Economist who evaluated questionnaire data of Istanbul Chamber of Industry, Turkey Production PMI June, said: “PMI increase trend of Turkish production industry continued in June, and pointed out that general performance of the industry occurred at the strongest level observed within three point five years. Especially what draws attention is that the highest increase in new orders was recorded within over the last six years. This improvement gave the positive signals for the third quarter.6,7 percent of annual growth in the last official industry production occurring in April has confirmed the power of PMI in the current period.”

Istanbul Production PMI became 52,2 in June

Istanbul Chamber of Industry Istanbul Production PMI recorded in May at 53,3 level become 52,2 in June. Index pointed out that strong improvement in activity conditions continued generally.  Also, PMI was recorded over 50,5 which was the long-term average (since January 2006) and at the second highest level observed since November 2014. In June, four of five sub-indexes (except sub-index of input stocks) contributed to headline PMI positively. Reduction in PMI compared with May arose from lower-rate increases in new orders, production and employment. None withstanding, new orders, production and employment grew at a strong level compared with previous averages and delivery periods of suppliers continued to increase.New businesses grew at the second highest rate since February 2014. Production increased in June to be successive fourth month. Therefore, longest uninterrupted increase trend of the last two point five years occurred.