Turkey’s manufacturing PMI at 49 points in October

By Tuba Sahin

ANKARA (AA) - Turkey’s Purchasing Managers’ Index (PMI) for the manufacturing sector stood at 49 points in October, according to a monthly business survey released Friday.

The Istanbul Chamber of Industry report, done in cooperation with London-based global data firm IHS Markit, showed that the October figure fell 1 point from a month earlier.

"This signaled a slight moderation in the health of the Turkish manufacturing sector," the report noted.

New orders also softened last month after an expansion in September due to weak demand in both domestic and export markets.

Companies continued to expand their staffing levels, albeit with some signs of weakness in October.

"Employment was up for the second month running, the first time that back-to-back increases in workforce numbers have been recorded since early-2018," it added.

Firms lowered their output prices for the second consecutive month to stimulate sales thanks to a relatively muted input cost inflation rate.