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Markit’s Turkey manufacturing PMI falls further in Dec

by ChemOrbis Editorial Team -
  • 02/01/2017 (15:30)
According to data released by Markit Economics, Turkish manufacturing activities showed more signals of deterioration in December. It declined to a reading of 47.7 in December after posting a reading of 48.8 in the previous month. Any reading above 50 indicates expansion while any reading below 50 represents contraction.

The decrease was attributed to the decline in output and new orders as well as the continuing pressure of the depreciation of the lira on manufacturing input prices, which caused inflation to go up for the third month in a row. However, the employment was up on the month.

Meanwhile, the volume of new export business reportedly decreased in December, albeit moderate, when compared to the highest reading of 11 months in November.
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