Turkey’s manufacturing sector activity decreased in November, survey data from IHS Markit showed on Tuesday.

The Istanbul Chamber of Industry Turkey manufacturing Purchasing Managers’ Index, or PMI, fell to 51.4 in November from 53.9 in October. Any reading above 50 indicates expansion in the sector.

The latest reading was the lowest since the sector began its recovery from the Covid-19 pandemic related downturn in June.

Customer demand and production processes declined in November as Covid-19 case numbers increased, while new export orders and output eased.

Employment levels expanded in November for the sixth straight month. Backlogs of work were depleted again.

Input costs and output prices increased in November. The rate of inflation eased slightly on those seen in October.

“A resurgence of the COVID-19 pandemic acted to take the wind out of the Turkish manufacturing sector’s sails in November, with demand suffering,” Andrew Harker, economics director at IHS Markit, said.

The material has been provided by InstaForex Company – www.instaforex.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here