The Istanbul Chamber of Industry Turkey Manufacturing PMI slipped to 33.4 in April of 2020 from 48.1 in March, pointing to the strongest contraction in factory activity since the global financial crisis in 2008 caused by the Covid-19 pandemic and measures introduced to prevent its spread. Output and new orders fell at unprecedented rates amid company shutdowns, while firms scaled back employment and purchasing activity in response. In terms of prices, the rates of inflation eased from those seen in March, despite currency weakness being cited as the main factor leading input prices to rise.
Manufacturing PMI in Turkey averaged 50.05 points from 2011 until 2020, reaching an all time high of 55.70 points in January of 2018 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 May of 2020. source: Markit Economics
Manufacturing PMI in Turkey is expected to be 42.00 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 50.50 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.