Flat trend in manufacturing PMI

Turkey’s manufacturing PMI from the Istanbul Chamber of Industry, which is considered the fastest and most reliable benchmark on the performance of the manufacturing industry, which is the main indicator of economic growth, was unchanged at 51.5 in May.

The index, which was above the threshold value of 50.0 for the fifth consecutive month, signaled that the improvement in the operating conditions of the Turkish manufacturing sector continues.

The moderate improvement in question was the highest since late 2021, the same as April.

PRODUCTION INCREASED IN 8 OF 10 SECTORS

According to the Turkish Sectoral PMI report by the Istanbul Chamber of Industry, production increased in eight out of 10 sectors tracked in May.

The fastest production increase was in land and sea vehicles. While there was a decline in new orders only in the wood and paper products sector, the fastest increase was in textile products.

Employment increased in most sectors. Employment in the electrical and electronics sector has registered the fastest increase since January 2016, when the survey began, and outperformed other sectors in terms of rate.

Input costs continued to rise overall, but inflation in most sectors has fallen since April.