Manufacturing PMI highest since late 2013
Turkey’s Manufacturing Purchasing Managers’ Index (PMI) rose from 51.7 to 53.5 in May, the highest level recorded since December 2013, IHS Markit said on Thursday. “The Turkish manufacturing sector stepped up a gear in May,” Trevor Balchin, senior economist at IHS Markit. The May figure pointed to an acceleration in manufacturing growth driven by sharper gains in output, new orders and employment. Pressure on capacity was evident as suppliers’ delivery times lengthened and backlogs rose at the fastest rate since June 2006 as firms partly fulfilled orders by selling directly from stock. Meanwhile, input price pressures eased further during May.