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Financial News: Turkish Manufacturing Growth Remains Strong In September

Turkish Manufacturing Growth Remains Strong In September

10/01/2021 - 07:53:00 (RTTNews)

(RTTNews) - Turkey's manufacturing activity increased at a softer pace in September, survey results from IHS Markit showed on Friday.

The headline Istanbul Chamber of Industry Turkey manufacturing Purchasing Managers' Index fell to 52.5 in September from 54.1 in August. Any reading above 50.0 indicates expansion in the sector.

Business conditions accelerated for the fourth straight month in September. New business increased with the rise in new export orders.

Employment increased in September and backlogs of work rose for the first time since July last year. Suppliers' delivery time lengthened.

Input costs increased sharply in September and selling prices rose further.

"As part of efforts to guard against these problems, stocks of purchases were raised to the greatest extent since the end of 2017," Andrew Harker, economics director at IHS Markit, said.

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