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Financial News: Turkey Manufacture Activity At 4-Month Low

Turkey Manufacture Activity At 4-Month Low

06/03/2019 - 07:13:00 (RTTNews)

(RTTNews) - Turkey's manufacturing activity eased to the lowest pace in four months in May, survey data from IHS Markit showed on Monday.

The Istanbul Chamber of Industry Turkey Manufacturing purchasing managers' index, or PMI, fell to 45.3 in May.

Any reading below 50 indicates a contraction in the sector.

Both the input cost and output prices increased in May, while new orders moderated.

"The impact of currency depreciation on manufacturers continued in May," Andrew Harker, Associate Director at IHS Markit, said.

"The slowdown in new orders since the beginning of the year somewhat postponed the expectations of a recovery that arose during the first quarter."

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