ISTANBUL

Türkiye's Purchasing Managers Index (PMI) for the manufacturing industry reached 49.1 in December, up from 48.3 in November, the data provider S&P Global revealed on Thursday.

"The Turkish manufacturing sector neared stabilisation in December as rates of moderation in output, new orders, purchasing and inventories all softened over the course of the month," it said.

After a rise in November, employment posted a slight decline in December, while input costs increased markedly, but the rate of output price inflation eased to the weakest in just over five years.

The move toward stabilization in overall business conditions in the sector was consistent with the picture across a range of variables in the latest survey, S&P Global said.

"Production was scaled back only marginally and to the least extent in the current nine-month sequence of slower output, amid some signs of demand improving.

"New orders continued to moderate overall, however, as demand remained subdued. Although still solid, the latest easing of new business was the least," it added.