Economy

Turkey: Manufacturing PMI at 44.2 in December

Slowdown in output, new orders milder than in previous month, closely watched business survey shows

02.01.2019
Turkey: Manufacturing PMI at 44.2 in December

By Tuba Sahin

ANKARA

Turkey’s Purchasing Managers’ Index (PMI) for the manufacturing sector was 44.2 in December, according to a monthly business survey on Wednesday.

The figure was down from 44.7 in November, an Istanbul Chamber of Industry PMI Manufacturing Index report conducted in cooperation with IHS Markit revealed.

Output and new orders continued to ease due to challenging business conditions, albeit at softer rates than in November, the report noted.

"New export orders continued to moderate at a much softer pace than total new business," it added.

The decline in cost inflation pave the way for companies to reduce selling prices to boost customer demand, the report said.

The increasing rate of input prices slowed for the third successive month in December from September’s peak and was the weakest since September 2016, the report read.

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