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Markit’s Turkey manufacturing PMI rises in May

by ChemOrbis Editorial Team -
  • 02/06/2017 (14:47)
According to the data released by Markit Economics, Turkish manufacturing activities gained speed in May. The country’s PMI stood at a reading of 53.5 in May after posting a reading of 51.7 in the previous month on the back of a rise in output, new orders and employment. Any reading above 50 indicates expansion while any reading below 50 represents contraction.

The growth in output was the fastest since February 2014 while manufacturing employment increased at the fastest rate since February 2015. The data also showed that the rise in new work hit the record of 42 months while the growth in new exports orders reached the second fastest rate of about three years.

Domestic demand was also reported to be stronger and manufacturers increased their purchasing activity at the fastest rate since November 2014 to support the workloads.
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