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Turkish manufacturing PMI hits 50.4 during Feb.
(MENAFN) Based on new figures announced by Turkey on Tuesday, the country’s Purchasing Managers’ Index (PMI) for the production sector amounted at 50.4 last month.
According to a monthly report by the Istanbul Chamber of Industry and international data company IHS Markit based in London, the PMI dropped marginally from 50.5 in the first month of this year but still over the 50.0 no-change score, as has been the situation in all of the previous nine months.
It expressed that the overall new orders relaxed for the fifth consecutive month, and to the maximum level since May of the previous year as cost increases and market doubt dissuaded clients.
Input prices remained rising significantly in February amid higher costs for raw materials, energy, transportation as well as salaries.
According to a monthly report by the Istanbul Chamber of Industry and international data company IHS Markit based in London, the PMI dropped marginally from 50.5 in the first month of this year but still over the 50.0 no-change score, as has been the situation in all of the previous nine months.
It expressed that the overall new orders relaxed for the fifth consecutive month, and to the maximum level since May of the previous year as cost increases and market doubt dissuaded clients.
Input prices remained rising significantly in February amid higher costs for raw materials, energy, transportation as well as salaries.
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