Türkiye's manufacturing PMI remains unchanged at 49.2 in May

By Ovunc Kutlu

ANKARA (AA) - Türkiye's manufacturing purchasing managers' index (PMI) remained steady at 49.2 in May, unchanged from the previous month, the Istanbul Chamber of Industry announced on Wednesday.

The institution said in a report that customer demand remained muted in May and price pressures continued, adding "supply-chain disruption and rates of inflation eased over the month and firms continued to expand their workforce numbers."

While a figure greater than 50.0 indicates overall improvement of the sector, any lower figure implies contraction.

"Manufacturers continued to raise employment as part of efforts to expand capacity. Staffing levels were up for the twenty-fourth month running, albeit modestly," it said.

"There were further signs of inflationary pressures easing midway through the second quarter. While input costs increased sharply amid rising raw material prices and exchange rate fluctuations, the rate of inflation eased for the fifth month in a row to the softest since February 2021," it added.