Türkiye's manufacturing PMI slightly down in October

By Gokhan Ergocun

ISTANBUL (AA) – Türkiye's manufacturing purchasing managers index (PMI) was down to 46.4 in October from 46.9 in September, a US-based financial services company said on Tuesday.

According to global data provider S&P Global, Türkiye's manufacturing sector saw softer demand amid challenging market conditions.

"New orders and production both slowed, while firms scaled back their purchasing activity and employment accordingly. Meanwhile, suppliers' delivery times shortened amid a lack of demand for inputs," the press release said.

The PMI figure below the 50 level for eight consecutive month signals a solid moderation in the health of the manufacturing sector of the country, it stressed.

Andrew Harker, economics director at S&P Global, said: "Subdued demand conditions kept the Turkish manufacturing sector on the back foot in October, with weakness in international demand increasingly to the fore."