February 7, 2023
The January 2023 report from the Istanbul Chamber of Industry (ICI) on global manufacturing purchasing managers index (PMI) trends has been released. The global PMI was 49.1 in January, indicating a monthly decline in operating conditions for the sixth year running. However, the indicator, which rose by 0.4 points from the previous month, indicated that the rate of contraction had moderated. Since August 2022, the production, new order, and export decreases in January were measured at their most modest level. On the other hand, despite a modest uptick in employment in January following declines in both November and December, the sector’s idle capacity is still there.
Only 12 of the 31 national economies whose manufacturing PMIs were measured were over the 50-point mark.
Source: Istanbul Chamber of Industry (ICI)
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