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Financial News: Turkey Manufacturing Activity Stabilises In March

Turkey Manufacturing Activity Stabilises In March

04/01/2024 - 06:54:00 (RTTNews)

(RTTNews) - The manufacturing activity in Turkey remained unchanged in March, survey results from S&P Global showed on Monday.

The headline Istanbul Chamber of Industry Turkey Manufacturing Purchasing Managers' Index dropped to 50.0 in March from 50.2 in February. Any reading below 50.0 indicates contraction in the sector.

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

Production ticked higher, while new orders and employment neared stabilisation in March, the survey said.

As demand improved, firms expanded their purchasing activity, but inventories continued to decline.

On the price front, input prices rose further amid rising raw material costs and the weakness of the lira against the US dollar. Nonetheless, inflation eased to a 3-month low. Selling prices also rose at the softest pace in three months during March.

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