Turkey’s manufacturing sector signaled a worsening downturn in the operating conditions at the end of the third quarter, data from Istanbul Chamber of Industry and Markit showed Thursday.
The manufacturing Purchasing Managers’ Index fell to 48.8 in September, the lowest since April, from 49.3 in August. A reading below 50 indicates contraction.
Manufacturing has declined throughout 2015 except for brief periods of stabilization in May and July. Production fell at the strongest rate since April as new orders declined for the ninth month running.
The main bright points from the latest survey were a faster increase in new export business, linked to the weak exchange rate, and a moderate growth in employment.
The weakening lira continued to place upward pressure on input prices, which rose at the fastest rate since February 2014. At the same time, output price inflation also hit a 19-month high.
The material has been provided by InstaForex Company – www.instaforex.com