Turkey’s manufacturing PMI hits 43-month high in June
by ChemOrbis Editorial Team - content@chemorbis.com
According to the data released by Markit Economics, Turkey’s manufacturing PMI surged for the fifth consecutive month to 54.7 in June, which was the highest level since November 2013, from 53.5 in the previous month. Any reading above 50 indicates expansion while any reading below 50 represents contraction.
This rise was mainly driven by a sharp rise in new orders standing at six-year high due to increasing domestic and foreign demand which results in significant increases in output and employment, according to the data. The higher output and employment caused job creation to reach the highest level since February 2015.
The data also revealed that input and output price inflations are at six- and eight-month low in June. The former indicates the lowest level since September 2016.
This rise was mainly driven by a sharp rise in new orders standing at six-year high due to increasing domestic and foreign demand which results in significant increases in output and employment, according to the data. The higher output and employment caused job creation to reach the highest level since February 2015.
The data also revealed that input and output price inflations are at six- and eight-month low in June. The former indicates the lowest level since September 2016.
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