Turkish industrial PMI declines under onset level in Mar.
(MENAFN) In line with a business review, Turkiye’s Purchasing Managers’ Index (PMI) for the manufacturing sector decreased under the onset level for the first time since 10 months.
The index reached 49.4 in March, falling from 50.4 in February showed London-based worldwide data company IHS Markit’s monthly review, organized with the Istanbul Chamber of Industry.
PMI for the manufacturing sector is considered as a main scale in following the health of the sector, with values over 50 points showing reduction while above shows increase.
Andrew Harker, the economics manager at IHS Markit, noted that Russia's conflict on Ukraine, which began on Feb. 24, put extra stress on the Turkish industrial sector.
He added "Already fragile demand was weakened further by the uncertainty caused by the war, while inflationary pressures were exacerbated and supply chains further disrupted.”
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