Manufacturing PMI in Turkey above Threshold for Five Consecutive Months
Bouncing back from the devastating impacts of the COVID-19 outbreak, Turkey’s manufacturing industry has been recording figures above the threshold level for five consecutive months as of October.
Turkey’s Purchasing Managers’ Index (PMI) for the manufacturing sector, compiled jointly by IHS Markit and the Istanbul Chamber of Industry, rose from 52.8 in September to 53.9 in October. The results show that robust recovery in the Turkish manufacturing sector has been gaining pace.
According to the report data, the main driver behind the output was rising customer demand and employment, one of the breakdown on the index, saw the fastest recovery since February 2018.
“Manufacturers pointed that recovery in customer demand was maintained, and new orders rose for five successive months. An expansion was also observed in new export orders,” finds the report.
Source: Investment Office
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.
