In his written statement, Minister of Industry and Technology Mustafa Varank stated that the January Manufacturing Purchasing Managers Index increased to 51.3, exceeding the threshold value for the first time in 22 months.
Underlining that the increase in new orders indicates the continuation of the improvement in demand, Varank said, “2020 will be a year in which we will achieve strong growth with policies that will increase production and employment.” made his assessment.
Threshold value exceeded
According to the results of the Istanbul Chamber of Industry (ISO) Turkey Manufacturing Purchasing Managers Index (PMI) survey for the January 2020 period, the ISO Turkey Manufacturing PMI, which was measured as 49.5 in December 2019, increased by 1.8 points to 51.3 in January. The index, which was above the threshold value of 50, indicated a moderate improvement in the sector’s operating conditions.
The improvement in demand enabled new orders to move into the growth zone in January. The growth rate, although moderate, was at the strongest level since March 2018.
New export orders also increased, ending the 5-month downward trend. New orders rose again, allowing manufacturers to expand production for the third month in a row. The highest value in production increase was seen in approximately 2 years.
Source: https://www.aa.com.tr/tr/ekonomi/bakan-varank-2020-guclu-buyumayı-yakalayacagimiz-bir-yil-olacak/1722764
