By Tuba Sahin
ANKARA (AA) – Turkey’s Purchasing Managers’ Index (PMI) for the manufacturing sector stood at 42.7 points in September due to a slowdown both in new orders and output, according to a closely-watched business survey on Monday.
An Istanbul Chamber of Industry PMI Manufacturing Index report conducted in cooperation with IHS Markit showed a 3.7-point month-on-month decrease in September pointing to a further easing of business conditions in the sector.
“Both output and new orders continued to slow, with companies scaling back employment and purchasing activity accordingly, ” the report read.
It said inflationary pressures remained substantial, reflecting a weaker Lira.
“Lira weakness again contributed to inflationary pressures, while difficulties in sourcing materials were reported, ” the report said.
A reading greater than 50 indicates the sector is growing, while a reading below 50 signals a contraction.
