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Financial News: Turkey Manufacturing Activity Rises In June

Turkey Manufacturing Activity Rises In June

07/01/2019 - 07:59:00 (RTTNews)

(RTTNews) - Turkey's manufacturing activity rose in June, with growth in new exports, survey data from IHS Markit showed on Monday.

The Istanbul Chamber of Industry Turkey Manufacturing purchasing managers' index, or PMI, rose to 47.9 in June from 45.3 in May.

However, any reading below 50 indicates a contraction in the sector.

New order growth slowed to the weakest in fourteen months in June. Output and employment were slowed at the end of the second quarter.

On the price front, both the input cost and output cost softened slightly in June.

"The end of the second quarter of the year provided some signs of encouragement for Turkish manufacturers, not least due to a return to growth of new export orders," Andrew Harker, associate director at IHS Markit, said.

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