Türkiye’s manufacturing growth momentum picks up in March

By Gokhan Ergocun

ISTANBUL (AA) - Türkiye’s manufacturing growth momentum picked up in March, according to data provider S&P Global on Monday.

In its purchasing managers index (PMI) report, S&P Global said that inflation rates and supply-chain disruption posted signs of easing last month.

It said the manufacturing sector's PMI was at 50.9 in March, up from 50.1% in February.

"Operating conditions strengthened to the greatest extent since December 2021," the report added.

Manufacturing production increased for the first time in 16 months, while new orders returned to growth for the first time in a year-and-a-half, it said.

New export orders also rose for the first time in a year, the report said.

Andrew Harker, economics director at S&P Global Market Intelligence, said although some firms were still affected by the February quakes, the start of reconstruction efforts supported the overall return to growth in March.

"With new orders also up, we are hopefully seeing an end to the relatively soft conditions experienced by firms over the past year or so," he added.