The Istanbul Chamber of Industry Turkey Manufacturing PMI fell to 54.3 in August of 2020 from 56.9 in July which was the highest reading since February of 2011. Still, the reading points to the third consecutive month of rising manufacturing, suggesting that the recovery in the factory sector was sustained. Customer demand continued to improve, supporting further marked increases in output and new orders. In turn, firms expanded their purchasing activity and employment. Meanwhile, a depreciation of the Turkish lira against the US dollar led to accelerating inflation of both input costs and output prices.
Manufacturing PMI in Turkey averaged 50.10 points from 2011 until 2020, reaching an all time high of 56.90 points in July of 2020 and a record low of 33.40 points in April of 2020. 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. Turkey Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Markit Economics
Manufacturing PMI in Turkey is expected to be 54.70 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 54.00 in 12 months time. In the long-term, the Turkey Manufacturing PMI is projected to trend around 52.50 points in 2021 and 53.40 points in 2022, according to our econometric models.