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Markit’s Turkey manufacturing PMI rises in Jan

by ChemOrbis Editorial Team - content@chemorbis.com
  • 02/02/2017 (15:32)
According to data released by Markit Economics, Turkish manufacturing activities showed signals of improvement in January. It rose to a reading of 48.7 in January after posting a reading of 47.7 in the previous month. Any reading above 50 indicates expansion while any reading below 50 represents contraction.

The increase was attributed to the increase in new export orders although they are still below the threshold of 50. The volume of new exports for the month was up for the fourth month in a row out of six.

Meanwhile, employment in the goods-producing sector remained unchanged in January from December, which indicated persistent job creation at manufacturers for the fifth month in a row. The data showed the Turkish goods producers’ purchasing activity continued to slow in January, although it was at a slower pace than in December.

Also, depreciation of the lira continued to put pressure on manufacturing input prices and moved them up.
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