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Financial News: Turkey's Factory Activity Falls At Slower Pace

Turkey's Factory Activity Falls At Slower Pace

09/02/2019 - 08:25:00 (RTTNews)

(RTTNews) - Turkey's manufacturing activity shrank at a slower pace in August suggesting that the sector is moving towards stabilization midway through the third quarter of the year, survey data from IHS Markit showed Monday.

The headline Istanbul Chamber of Industry Purchasing Managers' Index improved to 48.0 in August from 46.7 in July. This was the highest score since July 2018. The latest reading was the highest since July 2018.

The pace of moderation in new orders was the weakest for almost a year-and-a-half, while employment levels were broadly unchanged. Production also moderated in August.

On the price front, both input costs and output prices rose at weaker rates in August.

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