The latest data released by the Istanbul Chamber of Industry reveals a decline in Turkey's Manufacturing Purchasing Managers' Index (PMI) for the month of April. The indicator dropped to 49.30, down from 50.00 in March 2024. This decrease indicates a contraction in the manufacturing sector, falling below the neutral 50.00 mark.
The report, reflecting the economic conditions in the country, suggests a slowdown in manufacturing activities for the month of April. With the current indicator below the previous level, it highlights a challenging environment for Turkey's manufacturing industry. The data, updated on May 2, 2024, underscores the importance of monitoring economic indicators closely to gauge the health of the economy and make informed decisions moving forward.
