Türkiye Manufacturing PMI Shows Signs of Recovery
(MENAFN) Türkiye’s manufacturing sector showed signs of easing strain as the Purchasing Managers Index (PMI) climbed from 45.9 in July to 47.3 in August, according to data released Monday by S&P Global.
"The latest reading pointed to a solid moderation in business conditions in the sector, albeit one that was the least pronounced since April," the S&P Global press release noted.
Despite ongoing challenges in the market environment, Turkish manufacturers experienced a slower decline in output and new orders last month compared to July. The report highlighted that "workloads were such, however, that firms continued to scale back employment and purchasing activity."
Input costs saw a slight acceleration in inflation, but output prices increased at the slowest rate recorded this year.
Andrew Harker, economics director at S&P, emphasized the tough conditions faced by Turkish manufacturers in August, with employment notably reduced as a consequence. He said, "There were, however, some signs of positivity from the latest PMI survey, which showed the respective slowdowns in output and new orders losing steam."
He noted that if these patterns persist in the coming months, the sector might be “looking brighter as we head toward the end of the year.”
"The latest reading pointed to a solid moderation in business conditions in the sector, albeit one that was the least pronounced since April," the S&P Global press release noted.
Despite ongoing challenges in the market environment, Turkish manufacturers experienced a slower decline in output and new orders last month compared to July. The report highlighted that "workloads were such, however, that firms continued to scale back employment and purchasing activity."
Input costs saw a slight acceleration in inflation, but output prices increased at the slowest rate recorded this year.
Andrew Harker, economics director at S&P, emphasized the tough conditions faced by Turkish manufacturers in August, with employment notably reduced as a consequence. He said, "There were, however, some signs of positivity from the latest PMI survey, which showed the respective slowdowns in output and new orders losing steam."
He noted that if these patterns persist in the coming months, the sector might be “looking brighter as we head toward the end of the year.”
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