Markit’s Turkey manufacturing PMI falls in Nov
by ChemOrbis Editorial Team - content@chemorbis.com
According to data released by Markit Economics, Turkish manufacturing activities showed signals of deterioration in November. It declined to a reading of 48.8 in November after posting a reading of 49.8 in the previous month. However, the number was consistent with the average for 2016, which is 48.9. 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 pressure of the depreciation of the lira on manufacturing input prices, which caused inflation to go up for the second month in a row.
However, the volume of new export business reportedly increased in November for the third time in four months. Also, the expansion of exports was the fastest since December 2015.
The decrease was attributed to the decline in output and new orders as well as the pressure of the depreciation of the lira on manufacturing input prices, which caused inflation to go up for the second month in a row.
However, the volume of new export business reportedly increased in November for the third time in four months. Also, the expansion of exports was the fastest since December 2015.
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