The Istanbul Chamber of Industry Turkey Manufacturing PMI was unchanged from the previous month at 49.2 in May of 2022, signaling a third consecutive month of contraction in Turkey’s factory activity. Both output and new orders were seen lower in May, largely due to low customer demand. At the same time, export orders slowed at the sharpest pace in two years, despite a plunging lira, with manufacturers citing the economic slowdown in Europe as the main reason. Still, firms continued to raise staff levels, pointing to the 24th consecutive month of employment growth. On the price front, inflationary pressures remained intense amid rising costs for raw materials and lower purchasing power from the national currency, despite the easing of supply-chain disruptions. source: Markit Economics
Manufacturing PMI in Turkey averaged 50.35 points from 2011 until 2022, 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 June of 2022.
Manufacturing PMI in Turkey is expected to be 49.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Manufacturing PMI is projected to trend around 54.60 points in 2023 and 53.40 points in 2024, according to our econometric models.