Türkiye's manufacturing output growth comes in at near 2-year high in June

By Gokhan Ergocun

ISTANBUL (AA) – Turkish manufacturers continued to expand production in the second quarter of 2023 and output growth was recorded at near a two-year high in June, a US-based data provider revealed on Monday.

"Output was up for the fourth month running, with the rate of growth the fastest since July 2021," S&P Global said in a statement.

New order growth eased in June amid the impacts of currency depreciation, which also caused strengthening of price pressures.

The purchasing managers index (PMI) for the Turkish manufacturing sector was at 51.5 in June, signaling further modest improvement in the health of sector.

"Business conditions have now strengthened in each of the past six months," S&P Global said, adding: "The main positive from the latest survey was a solid and accelerated rise in manufacturing production."