Turkey’s manufacturing sector expanded for the third straight month in January, albeit at a weaker pace, survey data from Istanbul Chamber of Industry and Markit showed Monday.
The Manufacturing Purchasing Managers’ Index, or PMI, dropped to 50.9 in January from December’s 13-month high of 52.2. However, any reading above 50 suggests expansion in the sector.
New orders grew for the third month running in January on improving overall demand. At the same time, new export business fell during the month, due to geographical factors and uncertainty.
Output also rose for the third successive month in January, but at a slower rate.
On the price front, input price inflation intensified slightly for the first time in four months since November 2014, reflecting a renewed weakening of the Turkish lira. This forced firms to raise their selling prices at the sharpest pace in three months.
The material has been provided by InstaForex Company – www.instaforex.com