Turkey’s manufacturing index at highest since July 2018
Purchasing Managers’ Index for the Turkish manufacturing sector was 47.2 in March, the highest since July 2018, according to a report released on April 1 by IHS Markit, a leading financial analysis company. The IHS Markit report, drawn from data from an Istanbul Chamber of Industry PMI Manufacturing Index, showed a 0.8-point advance from the previous month, inching closer to stabilization. While operating conditions moderated on a monthly basis throughout last year, the latest slowdown was weaker than the average over this
sequence, the report said. “There appears to be light at the end of the tunnel in the Turkish manufacturing sector, with both output and employment scaled back at the slowest rates since mid-2018,” Andrew Harker, associate director of IHS Markit, said. Citing that securing new orders remains a key challenge for firms amid ongoing “demand difficulties”, Harker said the sector in general looks to be moving towards stabilization.