Turkey’s manufacturing sector continues to decelerate in Dec
by ChemOrbis Editorial Team - content@chemorbis.com
According to data released by the Istanbul Chamber of Industry and Markit Economics, the downward trend which kicked off in November in Turkey’s manufacturing sector gained momentum in December.
The headline PMI was down from 51.4 in November to 50.8 in December. Although the index continued to signal an improvement in business conditions, it also pointed to the lowest level of expansion in the manufacturing sector in the last seven months.
COVID-19 pandemic and measures led to a decrease in production and new orders in December. New orders from export markets also decreased due to the second wave of the virus.
In December, delivery times increased at the highest rate seen since June 2015, when the survey first began. Supply issues combined with the weakness in Turkish lira led to a sharp rise in input costs.
The headline PMI was down from 51.4 in November to 50.8 in December. Although the index continued to signal an improvement in business conditions, it also pointed to the lowest level of expansion in the manufacturing sector in the last seven months.
COVID-19 pandemic and measures led to a decrease in production and new orders in December. New orders from export markets also decreased due to the second wave of the virus.
In December, delivery times increased at the highest rate seen since June 2015, when the survey first began. Supply issues combined with the weakness in Turkish lira led to a sharp rise in input costs.
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