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Financial News: Turkey Manufacturing Sector Contracts In April

Turkey Manufacturing Sector Contracts In April

05/02/2018 - 06:12:00 (RTTNews)

(RTTNews) - Turkey's manufacturing activity deteriorated in April, as growth in new orders and employment decelerated, survey figures from IHS Markit and Istanbul Chamber of Industry showed Wednesday.

The headline manufacturing Purchasing Managers' Index dropped to 48.9 in April from 51.8 in March.

A score below 50 suggests contraction, while any score above 50 indicates expansion in the sector.

Among components, output grew for the fifteenth month in a row despite a slowdown in new orders.

Employment growth also eased in April and firms reduced their purchasing activity.

On the price front, average output charges continued to rise amid growing input prices.

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