MANUFACTURING PMI FALLS TO 51.7

The Manufacturing Purchasing Managers Index (PMI) prepared by the Istanbul Chamber of Commerce (ICI) dropped by 2.7 points to 51.7 in February, compared to the previous month. ICI Manufacturing PMI reached 54.4 in January. Ongoing supply chain disruptions adversely affected the output and order inflows in many sectors, according to ICI. However, the headline PMI has been above the threshold value for the last 9 months. Meanwhile, new export orders increased for the second consecutive month. Despite the slowdown and problems in raw material supply, some signs of improvements in demand led manufacturers to expand production. Output modestly rose in the second consecutive month.