Turkey’s manufacturing grows further in October

According to the data released by the Istanbul Chamber of Industry and Markit Economics, Turkey’s manufacturing PMI surged for the eighth consecutive month in October, marking the longest period of consecutive growth since 2004. Any reading above 50 indicates expansion while any reading below 50 represents contraction.

Accordingly, Turkey’s manufacturing PMI became 52.8 in October, down from 53.5 registered in September. Although there was a small decline in the figure, the overall business conditions in Turkey’s manufacturing sector remained robust during the month.

The upturn was mainly driven by the growth in new orders and output amid growing demand from domestic and foreign markets. The employment also grew for the ninth month in a row on the back of higher demand.