Turkish Manufacturing Downturn Continues In March

(RTTNews) - The manufacturing activity in Turkey deteriorated at a faster pace in March, survey results from S&P Global showed on Wednesday.

The headline The Istanbul Chamber of Industry Turkey Manufacturing Purchasing Managers' Index dropped to 47.3 in March from 48.3 in February. Any reading below 50.0 indicates contraction in the sector.

Among components, output, new orders, employment, and purchasing all eased in March amid challenging marketing conditions both domestically and internationally.

On the price front, input price inflation eased to a three-month low, and output prices rose at a slower rate.

"There was a lack of pressure on capacity across the sector, with suppliers able to speed up deliveries to the greatest extent since December 2022," Andrew Harker, Economics Director at S&P Global Market Intelligence, said.