Türkiye's manufacturing PMI down in November

By Gokhan Ergocun

ISTANBUL (AA) – Türkiye's purchasing managers' index (PMI) for the manufacturing sector dropped slightly to 45.7 in November, the US-based financial services company S&P Global said on Thursday.

The latest PMI figures, down from 46.4 in October, signaled an ongoing moderation of business conditions in the Turkish manufacturing sector last month amid global demand weakness, according to the company.

"Meanwhile, the rate of input cost inflation softened to a three-year low and suppliers' delivery times improved at a near-record pace as a lack of demand for inputs eased price and supply pressures," it said.

Andrew Harker, economics director at S&P Global, said global demand weakness caused difficulties for Turkish producers.

"A recent drop off in demand for inputs, meanwhile, has acted to alleviate some of the headwinds that firms had been facing.

"Specifically, the rate of input cost inflation was at a three-year low, while suppliers' delivery times shortened to an extent exceeded only once since the survey began in 2005," he said.